Waec Model Questions Vol1 2020 Economics Question 2
Practice objective / multiple choice question 2 from the 2020 Waec Model Questions Vol1 Economics examination.
The price elasticity of demand for a commodity is -1.5. If the market price is increased by 10%, what is the percentage change in total revenue? State whether total revenue rises or falls and by how many percent (to one decimal place).
Answer Options
About This Question
This is Waec Model Questions Vol1 2020 Economics Question 2. It is one of the objective questions from the 2020 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.