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When price of eggs rises from N50 to N60 per unit, quantity demanded falls from...

When price of eggs rises from N50 to N60 per unit, quantity demanded falls from 500 Units to 400 units. Calculate the coefficient of price elasticity if demand and determine whether demand is elastic, inelastic or unitary ?
In Economics
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Asked by Didi on 28th October, 2020
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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
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