Neco Model Questions Vol1 2020 Economics Question 7
Practice objective / multiple choice question 7 from the 2020 Neco Model Questions Vol1 Economics examination.
When the price of a good rises from \(20\) naira to \(24\) naira, quantity demanded falls from 500 units to 425 units. Compute 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 2020 Economics Question 7. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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