Gce Model Questions Vol1 2020 Economics Question 34
Practice objective / multiple choice question 34 from the 2020 Gce Model Questions Vol1 Economics examination.
When the price of a product falls from \$20 to \$15, the quantity demanded rises from 200 units to 260 units. Using the midpoint (arc) method, calculate the price elasticity of demand. State whether the demand is elastic, inelastic or unit‑elastic.
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About This Question
This is Gce Model Questions Vol1 2020 Economics Question 34. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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