If an increase in the price of a commodity leads to increase in total revenue,...

JAMB 1998

If an increase in the price of a commodity leads to increase in total revenue, then it means that the demand for this commodity is?

A. normal
B. elastic
C. inelastic
D. abnormal

WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts

Correct Answer: Option C

Explanation

No official explanation is available for this question at this time. Please check contributions posted by others below. If you can provide an explanation to help other student learn, please click here

Previous Next

Go back to Econs classroom

Report an Error Ask A Question Download App

WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now

Contributions ({{ comment_count }})

Please wait...

{{ settings.no_comment_msg ? settings.no_comment_msg : 'There are no comments' }}

Quick Questions

what is isoelectronics series? Answer this

2 Answers · Chemistry · 1 day ago
what is the cut off marks for lafia federal university? Answer this

1 Answers · 1 day ago
49. Fill in the blank space with the correct word(s), from the options lettered A-D. In the sentence "The girl... Answer this

4 Answers · 2 years ago

If an increase in the price of a commodity leads to increase in total revenue,...

Correct Answer: Option C

Explanation

Contributions ({{ comment_count }})

Please wait...

Modal title

Report

Block User

{{ feedback_modal_data.title }}

Quick Questions

Post your Contribution

Sign In