When demand is elastic, it means that consumers
...When demand is elastic, it means that consumers
React more proportionately to price change
Are not sensitive to price changed
Will stop buying when price increases
React less proportionately to price change
React equally to price change
Correct answer is A
No explanation has been provided for this answer.
Which of the following is not a problem facing Economic Community of West African States (...
Public corporation is financed with ...
If a government wants to reduce the level of inflation, it will ...
In a country with large population of full-time housewives, national income ...
If the quantity of men's hat demanded per week is represented by the function Qd=20-\(\frac{1}{3...
The magnitude of the national income of a country depends on all the following except the ...
A commodity can be sold for two or more different prices if it is ...
If CBN reduces money supply, the interest rate will ...
West African countries experience rapid population growth due to ...