Waec Model Questions Vol1 2025 Economics Question 46

Practice objective / multiple choice question 46 from the 2025 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2025 Economics Objective / Multiple Choice Medium Difficulty
Question 46 WAEC_MODEL_QUESTIONS_VOL1 • 2025 • ECONOMICS • objective

The price of a commodity rises from ₦200 to ₦250 and the quantity demanded falls from 5,000 units to 4,000 units. Using the midpoint method, calculate the price elasticity of demand and state whether total revenue will increase, decrease, or remain unchanged after the price change.

Answer Options

Correct Answer A. Elasticity = -1 (unit elastic); total revenue remains unchanged
B. Elasticity = -1.2 (elastic); total revenue increases
C. Elasticity = -1 (unit elastic); total revenue decreases
D. Elasticity = -0.8 (inelastic); total revenue decreases
Correct Answer
A
Correct Option:
Elasticity = -1 (unit elastic); total revenue remains unchanged

About This Question

This is Waec Model Questions Vol1 2025 Economics Question 46. It is one of the objective questions from the 2025 Waec Model Questions Vol1 Economics examination.

Difficulty level: Medium .

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