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Question 0

If the price of an item increases by 8% while the quantity demanded falls from 1500 units to 1492 units, the demand is said to be

  • A.perfectly elastic
  • B.inelastic
  • C.elastic
  • D.perfectly inelastic
  • E.
Objective

Question details

Exam body
JAMB
Subject
Economics
Year
2012
Question no.
#0
Type
Objective
Previous · Q0A rise in income will, ceteris paribus, bring about Next · Q0 Comparison of interpersonal utility is impossible because

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