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?

  • 0.25
  • 0.40
  • 4.00
  • 25.00 checkmark

The correct answer is: D

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