Post Utme Noun 2024 Economics Question 13

Practice objective / multiple choice question 13 from the 2024 Post Utme Noun Economics examination.

Post Utme Noun 2024 Economics Objective / Multiple Choice
Question 13 POST_UTME_NOUN • 2024 • ECONOMICS • objective

Agricultural production in Nigeria is characterized by a high degree of seasonality. U\sing the concept of elasticity of demand, explain why farmers in Nigeria may not benefit from price fluctuations.

Answer Options

A. Farmers in Nigeria have a high degree of price elasticity of supply
Correct Answer B. Farmers in Nigeria have a low degree of price elasticity of demand
C. Farmers in Nigeria have a high degree of price elasticity of demand
D. Farmers in Nigeria have a low degree of price elasticity of supply
Correct Answer
B
Correct Option:
Farmers in Nigeria have a low degree of price elasticity of demand

About This Question

This is Post Utme Noun 2024 Economics Question 13. It is one of the objective questions from the 2024 Post Utme Noun Economics examination.

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