Post Utme Eksu 2017 Economics Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Eksu Economics examination.

Post Utme Eksu 2017 Economics Objective / Multiple Choice
Question 11 POST_UTME_EKSU • 2017 • ECONOMICS • objective

The demand for a commodity is said to be elastic if the percentage change in the quantity demanded is greater than the percentage change in the price. What is the condition for the demand to be inelastic?

Answer Options

A. The percentage change in the quantity demanded is less than the percentage change in the price.
B. The percentage change in the quantity demanded is equal to the percentage change in the price.
C. The percentage change in the quantity demanded is greater than the percentage change in the price.
Correct Answer D. The percentage change in the quantity demanded is less than or equal to the percentage change in the price.
Correct Answer
D
Correct Option:
The percentage change in the quantity demanded is less than or equal to the percentage change in the price.

About This Question

This is Post Utme Eksu 2017 Economics Question 11. It is one of the objective questions from the 2017 Post Utme Eksu Economics examination.

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