Question 0

Use the information below to answer questions.
When commodity X sold for N25 per unit, 50 units of commodity Y were purchased. With an increase in the price of commodity X to N50 per unit, the demand for commodity Y fell to 20 units.

Determined the cross elasticity of demand?

  • A.1.7
  • B.0.6
  • C.-0.6
  • D.-1.7
  • E.
Objective

Question details

Exam body
JAMB
Subject
Economics
Year
2000
Question no.
#0
Type
Objective

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