Question on: JAMB Economics - 1997

If the percentage change in the income of the consumers of an industrial product is less than the resulting percentage change in the quantity demanded of the product, then the income elasticity of demand for the product is?

A
less than one
B
equal to one
C
greater than one
D
equal to zero
Ask EduPadi AI for a detailed answer
Correct Option: C

Add your answer

Notice: Please post responsibly.

Please share this, thanks!

No responses

Learn real coding skills with Arinze Anakor — join him at zestmade.com and connect with him on X (formerly Twitter) for hands-on coding classes and practical learning.

Courses

SS1SS2SS3JAMBWAECJSS1JSS2JSS3

Featured Posts

137 Best Happy New Week Wishes, Messages & PrayersJAMB Past Questions & Answers PDF (FREE downloads, all subjects)127 Heartfelt Good Morning Love Messages for Her to Brighten Her DayThe Life Changer 130 Possible Questions And AnswersTop 10 Best Commercial Courses to Study in Nigeria for High Paying JobsSS1 Physics Scheme of Work (1st, 2nd, 3rd term)10 Reasons Doctors Are Better Than Teachers - Argumentative EssayJUPEB – Everything You Need to Know About JUPEB ProgrammeReasons Teachers Are Better Than Doctors - ArgumentativeHistory And Origin Of Cultism In Nigeria (Latest Update)