Neco 2019 Economics Question 17
Practice objective / multiple choice question 17 from the 2019 Neco Economics examination.
The price of a product rises from ₦200 to ₦250. The price elasticity of demand for the product is constant at -2. Initially, 1,000 units are sold per month. Estimate the new quantity demanded after the price change using \( \varepsilon = \frac{\%\Delta Q}{\%\Delta P} \).
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About This Question
This is Neco 2019 Economics Question 17. It is one of the objective questions from the 2019 Neco Economics examination.
Difficulty level: Easy .
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