2008
Economics
POST UTME
Which of the following statement is false?
A.
An economy where economic decision making is shared by individuals and government is known as mixed economy
B.
Given that apples and pears are substitutes, If the price of pear fall
C.
An elasticity of demand measured between two point on a demanded curve is called a point elasticity
D.
A and B are complements. If the supply of A decreases, the price B are tend to fall
Correct Answer: An elasticity of demand measured between two point on a demanded curve is called a point elasticity
Explanation
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