The demand for a product is said to be price in... - JAMB Economics 1990 Question
The demand for a product is said to be price inelastic if?
A
the price elasticity of demand is less than one
B
the price elasticity of demand is greater than one
C
a reduction in price results in increase in the quantity demanded
D
an increase in price results in a decrease in the quantity demanded
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Correct Option: A
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