Neco Model Questions Vol1 2019 Economics Question 16
Practice objective / multiple choice question 16 from the 2019 Neco Model Questions Vol1 Economics examination.
In a certain market the price of a good is \(₦200\) and the quantity demanded is \(300\) units. When the price is increased by \(10\%\) the quantity demanded falls by \(15\) units. Assuming the demand curve is linear, calculate the price elasticity of demand at the original price. Give your answer correct to two decimal places.
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About This Question
This is Neco Model Questions Vol1 2019 Economics Question 16. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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