Neco Model Questions Vol1 2018 Economics Question 27
Practice objective / multiple choice question 27 from the 2018 Neco Model Questions Vol1 Economics examination.
The price of a good rises from ₦200 to ₦250 and the quantity demanded falls from 5,000 units to 4,000 units. Using the midpoint method, calculate the price elasticity of demand and state whether demand is elastic, inelastic or unitary.
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About This Question
This is Neco Model Questions Vol1 2018 Economics Question 27. It is one of the objective questions from the 2018 Neco Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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