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WAEC Agricultural Science 2018 Question 46

Question 46

Basic Agricultural Economics

Use the demand schedule below.
Price (N) 12 — Quantity Demanded 200 kg
Price (N) 8 — Quantity Demanded 240 kg
What is the percentage change in quantity demanded?

  1. A.16.67%
  2. B.20.00%
  3. C.40.00%
  4. D.83.33%
Show the answer and explanation

Answer: B (20.00%)

Explanation

(240 − 200) ÷ 200 × 100 = 20%.