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  4. given that the demand for milk increased from 100 to 150 tins due to the...

given that the demand for milk increased from 100 to 150 tins due to the...

given that the demand for milk increased from 100 to 150 tins due to the reduction in price from 200 naira to 80 naira .
a)present the above information in a tabular form
b) calculate the co-efficient of the price elasticity
c) state the nature of the elasticity in "b" above and give two reasons.?
In Economics
2 Answers Available
Asked by angel on 31st July, 2023
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WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free