Gce Model Questions Vol1 2025 Economics Question 38
Practice objective / multiple choice question 38 from the 2025 Gce Model Questions Vol1 Economics examination.
The price of a good falls from \(\text{₦}200\) to \(\text{₦}150\) and quantity demanded rises from 500 units to 650 units. Using the midpoint method, calculate the price elasticity of demand and state whether demand is elastic, inelastic or unit‑elastic. Give the elasticity to two decimal places.
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About This Question
This is Gce Model Questions Vol1 2025 Economics Question 38. It is one of the objective questions from the 2025 Gce Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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