Neco Model Questions Vol1 2019 Economics Question 39
Practice objective / multiple choice question 39 from the 2019 Neco Model Questions Vol1 Economics examination.
The price of a product rises from \(\N{50}\) to \(\N{55}\). During the same period, quantity demanded falls from 200 units to 180 units. Using the midpoint method, calculate the price elasticity of demand and state whether demand is elastic, inelastic or unit‑elastic.
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About This Question
This is Neco Model Questions Vol1 2019 Economics Question 39. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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