Post Utme Redeemers University 2017 Economics Question 36

Practice objective / multiple choice question 36 from the 2017 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2017 Economics Objective / Multiple Choice
Question 36 POST_UTME_REDEEMERS_UNIVERSITY • 2017 • ECONOMICS • objective

The demand for a commodity is said to be inelastic if a change in its price leads to a relatively small change in the quantity demanded. Which of the following is a characteristic of an inelastic demand curve?

Answer Options

A. A small change in price leads to a large change in quantity demanded
Correct Answer B. A large change in price leads to a small change in quantity demanded
C. A change in price has no effect on quantity demanded
D. A change in income has no effect on quantity demanded
Correct Answer
B
Correct Option:
A large change in price leads to a small change in quantity demanded

About This Question

This is Post Utme Redeemers University 2017 Economics Question 36. It is one of the objective questions from the 2017 Post Utme Redeemers University Economics examination.

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