Waec Model Questions Vol1 2018 Economics Question 41
Practice objective / multiple choice question 41 from the 2018 Waec Model Questions Vol1 Economics examination.
The price of a commodity rises from ₦200 to ₦250 per unit, and the quantity demanded falls from 500 units to 400 units. Using the midpoint (arc) method, calculate the price elasticity of demand and state whether demand is elastic, inelastic or unitary.
Answer Options
About This Question
This is Waec Model Questions Vol1 2018 Economics Question 41. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Economics examination.
Difficulty level: Easy .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.