Gce Model Questions Vol1 2021 Economics Question 48
Practice objective / multiple choice question 48 from the 2021 Gce Model Questions Vol1 Economics examination.
When the price of a product rises from ₦50 to ₦60, the quantity demanded falls from 200 units to 160 units. Using the midpoint (arc) 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 48. It is one of the objective questions from the 2021 Gce Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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