Waec Model Questions Vol1 2019 Economics Question 11
Practice objective / multiple choice question 11 from the 2019 Waec Model Questions Vol1 Economics examination.
A consumer's income rises from ₦200,000 to ₦260,000 and the quantity demanded of a good increases from 40 units to 55 units. Calculate the income elasticity of demand and state whether the good is a necessity, normal, or luxury good.
Answer Options
About This Question
This is Waec Model Questions Vol1 2019 Economics Question 11. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Economics examination.
Difficulty level: Easy .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.