WAEC Economics 2025 Objective — Question 9
Question 9 of 51 from the West African Examinations Council (WAEC) Economics 2025 Objective paper, with the correct answer and a full explanation.
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The demand for a box of matches by a rich consumer is most likely to be
- A. price elastic.
- B. perfectly price elastic.
- C. price inelastic.Correct
- D. income elastic.
Explanation
Matches take up a negligible portion of a rich consumer's income, so demand barely responds to price changes (inelastic).
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