AdmitMe
Economics · Theory of demand

EconomicsTheory of demandWAEC

The price of a good rises from ₦100 to ₦120 and quantity demanded falls from 50 to 45 units. The price elasticity of demand is

Show answer

Answer: A. 0.5

(5/50) ÷ (20/100) = 0.1 ÷ 0.2.

An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.

Practise Theory of demandA timed set on this topic, freeAsk the AI TutorExplain it another way

Discussion

Ask about a step, share a shortcut, or explain it your way. Be kind; no links.

No comments yet. Be the first to explain it.

More Theory of demand questions