WAEC Economics 2014 Objective — Question 20
Question 20 of 50 from the West African Examinations Council (WAEC) Economics 2014 Objective paper, with the correct answer and a full explanation.
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If the coefficient of price elasticity of demand is 0.1, demand is
- A. elastic
- B. inelasticCorrect
- C. zero elastic
- D. unitary elastic
Explanation
When the coefficient of price elasticity of demand is 0.1, the demand is inelastic.
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