Post Utme Uniosun 2019 Economics Question 14

Practice objective / multiple choice question 14 from the 2019 Post Utme Uniosun Economics examination.

Post Utme Uniosun 2019 Economics Objective / Multiple Choice
Question 14 POST_UTME_UNIOSUN • 2019 • ECONOMICS • objective

The elasticity of demand for a good is measured by the percentage change in the quantity demanded of the good in response to a 1% change in the price of the good. If the demand for a good is elastic, then the percentage change in the quantity demanded of the good will be

Answer Options

Correct Answer A. Greater than 1%
B. Less than 1%
C. Equal to 1%
D. Greater than 0%
Correct Answer
A
Correct Option:
Greater than 1%

About This Question

This is Post Utme Uniosun 2019 Economics Question 14. It is one of the objective questions from the 2019 Post Utme Uniosun Economics examination.

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