Neco 2019 Economics Question 15
Practice objective / multiple choice question 15 from the 2019 Neco Economics examination.
The price of a product rises from \(\text{₦}200\) to \(\text{₦}250\) and the quantity demanded falls from \(1,200\) units to \(960\) units. Calculate the price elasticity of demand using the midpoint method and state whether demand is elastic, inelastic, or unit elastic.
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About This Question
This is Neco 2019 Economics Question 15. It is one of the objective questions from the 2019 Neco Economics examination.
Difficulty level: Easy .
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