Post Utme Ui 2025 Economics Question 24

Practice objective / multiple choice question 24 from the 2025 Post Utme Ui Economics examination.

Post Utme Ui 2025 Economics Objective / Multiple Choice
Question 24 POST_UTME_UI • 2025 • ECONOMICS • objective

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

Answer Options

A. A small change in price leads to a small change in quantity demanded
B. A large change in price leads to a small change in quantity demanded
Correct Answer C. A small change in price leads to a large change in quantity demanded
D. A large change in price leads to a large change in quantity demanded
Correct Answer
C
Correct Option:
A small change in price leads to a large change in quantity demanded

About This Question

This is Post Utme Ui 2025 Economics Question 24. It is one of the objective questions from the 2025 Post Utme Ui Economics examination.

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