Post Utme Oau 2024 Economics Question 6

Practice objective / multiple choice question 6 from the 2024 Post Utme Oau Economics examination.

Post Utme Oau 2024 Economics Objective / Multiple Choice
Question 6 POST_UTME_OAU • 2024 • ECONOMICS • objective

A perfectly competitive market has a demand curve that is downward sloping. What is the relationship between the price elasticity of demand and the slope of the demand curve?

Answer Options

Correct Answer A. The price elasticity of demand is inversely proportional to the slope of the demand curve.
B. The price elasticity of demand is directly proportional to the slope of the demand curve.
C. The price elasticity of demand is indep\endent of the slope of the demand curve.
D. The price elasticity of demand is inversely proportional to the square of the slope of the demand curve.
Correct Answer
A
Correct Option:
The price elasticity of demand is inversely proportional to the slope of the demand curve.

About This Question

This is Post Utme Oau 2024 Economics Question 6. It is one of the objective questions from the 2024 Post Utme Oau Economics examination.

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