if a given change in price brings a proportionately large...
if a given change in price brings a proportionately larger change in quantity demanded, the
Demand is relatively price elastic
Demand is relatively price inelastic
Price elasticity of demand is unitary
Price elasticity of demand is constant
Correct answer is A
Price elasticity is a measure of the responsiveness of demand or supply of a good or service to changes in price. The price elasticity of demand measures the ratio of the proportionate change in quantity demanded to the proportionate change of the price.
ECOWAS was formed for the purpose of________ ...
Dumping in international occurs when a foreign firm sells ...
A tax on land will ultimately fall ...
The Nigerian Trust Fund is managed on behalf of Nigeria by the ...
The main economic objective behind the production of goods and services in any economy is to ...
The theory of consumer behavior is based on all the following assumption except that the ...
The age distribution of a country's population determines the ...