Gce Model Questions Vol1 2021 Economics Question 17
Practice objective / multiple choice question 17 from the 2021 Gce Model Questions Vol1 Economics examination.
The price of a good rises from \(\text{₦}200\) to \(\text{₦}250\) and the quantity demanded falls from 800 units to 640 units. Using the midpoint method, calculate the price elasticity of demand and state whether demand is elastic, inelastic or unit‑elastic.
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About This Question
This is Gce Model Questions Vol1 2021 Economics Question 17. It is one of the objective questions from the 2021 Gce Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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