Post Utme Uniosun 2017 Economics Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Uniosun Economics examination.

Post Utme Uniosun 2017 Economics Objective / Multiple Choice
Question 11 POST_UTME_UNIOSUN • 2017 • ECONOMICS • objective

The demand for a commodity is said to be elastic if the percentage change in the quantity demanded is greater than the percentage change in the price. What is the condition for the demand to be inelastic?

Answer Options

A. Percentage change in quantity demanded is less than the percentage change in price
B. Percentage change in quantity demanded is greater than the percentage change in price
C. Percentage change in quantity demanded is equal to the percentage change in price
Correct Answer D. Percentage change in quantity demanded is less than or equal to the percentage change in price
Correct Answer
D
Correct Option:
Percentage change in quantity demanded is less than or equal to the percentage change in price

About This Question

This is Post Utme Uniosun 2017 Economics Question 11. It is one of the objective questions from the 2017 Post Utme Uniosun Economics examination.

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