Cross elasticity of demand - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 1984

If X and Y are two goods, then the cross elasticity of demand for X WITH RESPECT TO y is defined as the?

A. Percentage change in the quantity of X divded by the percentage change in the price of Y
B. Percentage change in the quantity of X divided by change in the price of Y
C. Change in the quantity of X divided by change in the price of Y
D. Percentage change in the quantity of X divided by the price Y
E. Percentage change in the price of X divided by percentage change in the quantity of Y

Question 3:

• JAMB 1984

For two substitution goods, the cross elastic of demand is?

A. Greater than one but less than two
B. Zero
C. Negative
D. Positive
E. Infinity

Question 4:

• JAMB 1991

The cross-elasticity of demand between complementary goods is?

A. Unitary
B. Positive
C. Zero
D. Negative

Question 5:

• JAMB 2000

Use the information below to answer questions.
When commodity X sold for N25 per unit, 50 units of commodity Y were purchased. With an increase in the price of commodity X to N50 per unit, the demand for commodity Y fell to 20 units.
Determined the cross elasticity of demand?

A. 1.7
B. 0.6
C. -0.6
D. -1.7