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Price elasticity of demand is define as the

Economics
WAEC 1993

Price elasticity of demand is define as the
  • A. responsiveness of demand to change in price
  • B. responsiveness of price to change in demand
  • C. increase in demand resulting form a rise in price
  • D. unit decrease in price resulting from a a fall in demand
  • E. unit increase in quantity demanded when price rises
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Correct Answer: Option A
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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