If the price of a ball point pen falls from N1.00 to NO.60 and the quantity demanded increases from 200 to 300; the point elasticity of demand is equal to?

By: |Published on: Oct 18|Categories: Economics JAMB| 0 comments

A. 0.50
B. 0.40
C. 1.25
D. 0.80

Correct Answer:

Option A – 0.50

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