Post Utme Aaua 2017 Economics Question 42
Practice objective / multiple choice question 42 from the 2017 Post Utme Aaua Economics examination.
A firm's elasticity of demand is given by the equation E = \( ΔQ / ΔP \) × \( P / Q \), where E is the elasticity of demand, ΔQ is the change in quantity demanded, ΔP is the change in price, P is the price, and Q is the quantity demanded. If the price is ₦50 and the quantity demanded is 100 units, and the change in price is ₦10 and the change in quantity demanded is 20 units, what is the elasticity of demand?
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About This Question
This is Post Utme Aaua 2017 Economics Question 42. It is one of the objective questions from the 2017 Post Utme Aaua Economics examination.
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