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WAEC Agricultural Science 2018 Question 47

Question 47

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 price?

  1. A.33.33%
  2. B.40.00%
  3. C.50.00%
  4. D.66.67%
Show the answer and explanation

Answer: A (33.33%)

Explanation

(12 − 8) ÷ 12 × 100 = 33.33%.