What is the elasticity of demand for commodity X, if at a price of N25 the quantity demanded is 80 and when the price is reduced to N20 the quantity demanded is 100?

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What is the elasticity of demand for commodity X, if at a price of N25 the quantity ...

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Economics Classroom
Jamb
Jamb 1995
The Theory Of Demand
Types, Nature And Determinants Of Elasticity And Their Measurement
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A 1.25
B 1.45
C 0.25
D 0.15

Correct Answer: Option A

Explanation:

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What is the elasticity of demand for commodity X, if at a price of N25 the quantity ...

Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

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