If the price of a ball point pen falls from N1.00 to N0.60 and the...
ECONOMICS
JAMB 1991
If the price of a ball point pen falls from N1.00 to N0.60 and the quantity demanded increases from 200 to 300, the point elasticity of demand is equal to?
- A. 1.25
- B. 0.80
- C. 0.50
- D. 0.40
Correct Answer: A. 1.25
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