Waec Model Questions Vol1 2023 Economics Question 33

Practice objective / multiple choice question 33 from the 2023 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2023 Economics Objective / Multiple Choice Easy Difficulty
Question 33 WAEC_MODEL_QUESTIONS_VOL1 • 2023 • ECONOMICS • objective

The price elasticity of demand for a product is -2. If the seller raises the price by 10%, what will be the new quantity demanded when the initial quantity demanded was 500 units?

Answer Options

A. 450
B. 350
C. 300
Correct Answer D. 400
Correct Answer
D
Correct Option:
400

About This Question

This is Waec Model Questions Vol1 2023 Economics Question 33. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Economics examination.

Difficulty level: Easy .

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