Gce Model Questions Vol1 2020 Economics Question 44
Practice objective / multiple choice question 44 from the 2020 Gce Model Questions Vol1 Economics examination.
The price of a product falls from \(\text{₦}50\) to \(\text{₦}40\) and the quantity demanded rises from 200 units to 260 units. Using the midpoint method, calculate the price elasticity of demand and state whether demand is elastic, inelastic, or unit‑elastic.
Answer Options
About This Question
This is Gce Model Questions Vol1 2020 Economics Question 44. It is one of the objective questions from the 2020 Gce 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.