Post Utme Noun 2022 Economics Question 22

Practice objective / multiple choice question 22 from the 2022 Post Utme Noun Economics examination.

Post Utme Noun 2022 Economics Objective / Multiple Choice
Question 22 POST_UTME_NOUN • 2022 • ECONOMICS • objective

A firm's demand curve is downward sloping, indicating that as the price of the good increases, the quantity demanded decreases. What is the elasticity of demand for this good?

Answer Options

A. Elastic demand
Correct Answer B. Inelastic demand
C. Unit elastic demand
D. Perfectly inelastic demand
Correct Answer
B
Correct Option:
Inelastic demand

About This Question

This is Post Utme Noun 2022 Economics Question 22. It is one of the objective questions from the 2022 Post Utme Noun Economics examination.

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