Question 49
Basic Agricultural EconomicsA total of 12,000 kg of maize was demanded at N20 per kg while 8,000 kg of it was demanded at N30 per kg. What is the percentage change in quantity demanded?
- A.33%
- B.50%
- C.67%
- D.150%
Show the answer and explanation
Answer: A (33%)
Explanation
(12,000 − 8,000) ÷ 12,000 × 100 = 33%.