Post Utme Caleb University 2017 General Studies Question 4

Practice objective / multiple choice question 4 from the 2017 Post Utme Caleb University General Studies examination.

Post Utme Caleb University 2017 General Studies Objective / Multiple Choice
Question 4 POST_UTME_CALEB_UNIVERSITY • 2017 • GENERAL STUDIES • objective
Post Utme Caleb University 2017 General Studies Question 4 diagram

The graph below shows the relationship between the price of a commodity and the quantity demanded.

Answer Options

A. The demand for the commodity is inelastic.
Correct Answer B. The demand for the commodity is elastic.
C. The demand for the commodity is unit elastic.
D. The demand for the commodity is perfectly inelastic.
Correct Answer
B
Correct Option:
The demand for the commodity is elastic.

About This Question

This is Post Utme Caleb University 2017 General Studies Question 4. It is one of the objective questions from the 2017 Post Utme Caleb University General Studies examination.

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