JAMB Economics 2009 Objective — Question 9
Question 9 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2009 Objective paper, with the correct answer and a full explanation.
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Price elasticity of demand is expressed as
- A. percentage change in price / percentage change in quantity demanded
- B. percentage change in quantity demanded / percentage change in income
- C. percentage change in income / percentage change in quantity demanded
- D. percentage change in quantity demanded / percentage change in priceCorrect
Explanation
Price elasticity is expressed as %change in quantity demanded / %change in price.
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