Determine the price elasticity of demand if the price of yam tuber rises by 10%
AGRICULTURE
WAEC 2016
Determine the price elasticity of demand if the price of yam tuber rises by 10% (0.1) and the quantity demanded falls by 5% (0.05)
- A. 0.5
- B. 0.4
- C. 0.3
- D. 0.1
Correct Answer: A. 0.5
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