Waec Model Questions Vol1 2022 Economics Question 2
Practice objective / multiple choice question 2 from the 2022 Waec Model Questions Vol1 Economics examination.
The price of a good rises from ₦200 to ₦250 and its quantity demanded falls from 5,000 units to 4,000 units. Calculate the price elasticity of demand (using the midpoint formula) and state whether demand is elastic, inelastic or unitary.
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About This Question
This is Waec Model Questions Vol1 2022 Economics Question 2. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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