Post Utme Pan Atlantic University 2021 Economics Question 11

Practice objective / multiple choice question 11 from the 2021 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2021 Economics Objective / Multiple Choice
Question 11 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2021 • ECONOMICS • objective

The elasticity of demand for a commodity is measured by the percentage change in the quantity demanded in response to a 1% change in the price of the commodity. If the demand for a commodity is elastic, what can be inferred about the price elasticity of demand?

Answer Options

Correct Answer A. The price elasticity of demand is greater than 1
B. The price elasticity of demand is less than 1
C. The price elasticity of demand is equal to 1
D. The price elasticity of demand is undefined
Correct Answer
A
Correct Option:
The price elasticity of demand is greater than 1

About This Question

This is Post Utme Pan Atlantic University 2021 Economics Question 11. It is one of the objective questions from the 2021 Post Utme Pan Atlantic University Economics examination.

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