Waec Model Questions Vol1 2021 Economics Question 38
Practice objective / multiple choice question 38 from the 2021 Waec Model Questions Vol1 Economics examination.
The price of a commodity rises from ₦120 to ₦150 per unit, and the quantity demanded falls from 800 units to 640 units. Using the midpoint method, calculate the price elasticity of demand and indicate whether demand is elastic, inelastic or unit‑elastic.
Answer Options
About This Question
This is Waec Model Questions Vol1 2021 Economics Question 38. It is one of the objective questions from the 2021 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.