Economics JAMB

The price of a good rises from N5 to N8 and the quantity demanded falls from 200 to 190 units Over this price range; the demand curve is?
The price of a good rises from N5 to N8 and the quantity demanded falls from 200 to 190 units Over this price range; the demand curve is?The price of a good rises from N5 to N8 and the quantity demanded falls from 200 to 190 units Over this price range; the demand curve is?

A. perfectly inelastic
B. fairly inelastic
C. perfectly elastic
D. fairly elastic

Correct Answer:

Option B – fairly inelastic

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4 years ago

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