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
- A. perfectly inelastic
- B. fairly inelastic
- C. perfectly elastic
- D. fairly elastic
Correct Answer: B. fairly inelastic
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