Neco 2017 Economics Question 43

Practice objective / multiple choice question 43 from the 2017 Neco Economics examination.

Neco 2017 Economics Objective / Multiple Choice Easy Difficulty
Question 43 NECO • 2017 • ECONOMICS • objective

If the price of a good rises from \( \text{₦}200 \) to \( \text{₦}250 \) and the quantity demanded falls from 500 units to 400 units, compute the price elasticity of demand using the midpoint formula.

Answer Options

A. 1
B. -0.8
C. -1.2
Correct Answer D. -1
Correct Answer
D
Correct Option:
-1

About This Question

This is Neco 2017 Economics Question 43. It is one of the objective questions from the 2017 Neco Economics examination.

Difficulty level: Easy .

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