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
Correct Answer: D. 25.00
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