Post Utme Rsu 2018 Economics Question 36

Practice objective / multiple choice question 36 from the 2018 Post Utme Rsu Economics examination.

Post Utme Rsu 2018 Economics Objective / Multiple Choice
Question 36 POST_UTME_RSU • 2018 • 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, a price increase will lead to a

Answer Options

A. increase in the quantity demanded
Correct Answer B. decrease in the quantity demanded
C. increase in the price of the commodity
D. decrease in the price of the commodity
Correct Answer
B
Correct Option:
decrease in the quantity demanded

About This Question

This is Post Utme Rsu 2018 Economics Question 36. It is one of the objective questions from the 2018 Post Utme Rsu Economics examination.

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