Neco 2017 Economics Question 13

Practice objective / multiple choice question 13 from the 2017 Neco Economics examination.

Neco 2017 Economics Objective / Multiple Choice Easy Difficulty
Question 13 NECO • 2017 • ECONOMICS • objective

The price elasticity of demand for a product is \(-1.5\). If the price rises from \(20\) naira to \(24\) naira, what is the percentage change in the quantity demanded?

Answer Options

A. -35%
Correct Answer B. -30%
C. -25%
D. -20%
Correct Answer
B
Correct Option:
-30%

About This Question

This is Neco 2017 Economics Question 13. It is one of the objective questions from the 2017 Neco Economics examination.

Difficulty level: Easy .

View More Neco 2017 Economics Questions More Neco Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support