Neco Model Questions Vol1 2025 Economics Question 31
Practice objective / multiple choice question 31 from the 2025 Neco Model Questions Vol1 Economics examination.
The price of a product rises from \(\text{₦}200\) to \(\text{₦}250\) and the quantity demanded falls from 500 units to 400 units. Using the midpoint method, calculate the price elasticity of demand and state whether the demand is elastic, inelastic or unitary.
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This is Neco Model Questions Vol1 2025 Economics Question 31. It is one of the objective questions from the 2025 Neco Model Questions Vol1 Economics examination.
Difficulty level: Easy .
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