Neco Model Questions Vol1 2025 Economics Question 18
Practice objective / multiple choice question 18 from the 2025 Neco Model Questions Vol1 Economics examination.
The price of a good falls from \(\text{₦}120\) to \(\text{₦}90\) and the quantity demanded rises from 500 units to 800 units. Using the midpoint (arc) 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 2025 Economics Question 18. It is one of the objective questions from the 2025 Neco Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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