Waec Model Questions Vol1 2017 Economics Question 17

Practice objective / multiple choice question 17 from the 2017 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2017 Economics Objective / Multiple Choice Medium Difficulty
Question 17 WAEC_MODEL_QUESTIONS_VOL1 • 2017 • ECONOMICS • objective

When the price of a product rises from ₦200 to ₦250, the quantity demanded falls from 5 000 units to 4 000 units. Using the midpoint (arc) method, determine the price elasticity of demand and state the percentage change in total revenue resulting from the price change.

Answer Options

A. 20%
Correct Answer B. 0%
C. -5%
D. 10%
Correct Answer
B
Correct Option:
0%

About This Question

This is Waec Model Questions Vol1 2017 Economics Question 17. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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