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If a 10k per kg, 1000kg of yam were purchased and at 5k per kg,...

Economics
JAMB 1989
If a 10k per kg, 1000kg of yam were purchased and at 5k per kg, 1,500kg were purchased, the resultant point elasticity of demand is?
  • A. 0.33
  • B. 0.0001
  • C. 1
  • D. 10,000
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Correct Answer: Option C
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now