The price of a good rises from N5 to N8 and the quantity demanded falls…

Economics JAMB 2003

The price of a good rises from N5 to N8 and the quantity demanded falls from 200 to 190 units Over this price range, the demand curve is

  • perfectly inelastic
  • fairly inelastic checkmark
  • perfectly elastic
  • fairly elastic

The correct answer is: B

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