Question 6
The demand for petrol at N65.00 per litre was 330,000 litre per day but when the price rose to N75.00 per litre, the quantity demanded dropped to 220,000 litres. What is the coefficient of the price elasticity of demand?
Objective
Question details
- Exam body
- UNIBEN
- Subject
- General Paper
- Year
- 2008/2009
- Question no.
- #6
- Type
- Objective
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