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WAEC Economics 2024 Paper

Question : 9

Total: 50

Solution:

Concept:

Percentage change compares the change in quantity demanded with the original quantity demanded.

Explanation:

Original quantity demanded

= 150

bags.

New quantity demanded

= 100

bags.

Change in quantity demanded

= 150 - 100 = 50

bags.

Percentage change

= \frac{\text{Change}}{\text{Original quantity}} \times 100\%

Percentage change

= \frac{50}{150} \times 100\% = 33.3\%

Since quantity decreased, the change is a

33.3\%

decrease in quantity demanded.

Answer:

33.3\%

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