Gce Model Questions Vol1 2021 Economics Question 12
Practice objective / multiple choice question 12 from the 2021 Gce Model Questions Vol1 Economics examination.
A market's demand curve is linear and passes through the points \((P=20,\;Q=500)\) and \((P=15,\;Q=800)\). Determine the price elasticity of demand at the price \(P = 18\) using the point‑elasticity formula, and state whether demand is elastic at that price.
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About This Question
This is Gce Model Questions Vol1 2021 Economics Question 12. It is one of the objective questions from the 2021 Gce Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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