Post Utme Afe Babalola University 2020 Economics Question 26

Practice objective / multiple choice question 26 from the 2020 Post Utme Afe Babalola University Economics examination.

Post Utme Afe Babalola University 2020 Economics Objective / Multiple Choice
Question 26 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2020 • ECONOMICS • objective

At the point of equilibrium, the price elasticity of demand is equal to the price elasticity of supply. Which of the following statements is true?

Answer Options

A. The equilibrium price is the same as the price elasticity of demand.
B. The equilibrium quantity is the same as the price elasticity of supply.
C. The price elasticity of demand is greater than the price elasticity of supply.
Correct Answer D. The price elasticity of demand is less than the price elasticity of supply.
Correct Answer
D
Correct Option:
The price elasticity of demand is less than the price elasticity of supply.

About This Question

This is Post Utme Afe Babalola University 2020 Economics Question 26. It is one of the objective questions from the 2020 Post Utme Afe Babalola University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support