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Given that the elasticity of demand for a commodity is 2.5, the percentage change in...

Economics
JAMB 1998
Given that the elasticity of demand for a commodity is 2.5, the percentage change in the quantity demanded as a result of a 10 percent change in it price is?
  • A. 0.25
  • B. 0.40
  • C. 4.00
  • D. 25.00
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Correct Answer: Option D
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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
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now