Post Utme Abu 2024 Economics Question 36

Practice objective / multiple choice question 36 from the 2024 Post Utme Abu Economics examination.

Post Utme Abu 2024 Economics Objective / Multiple Choice
Question 36 POST_UTME_ABU • 2024 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve with elasticity of -2. If the firm increases its price by 10%, what is the percentage change in quantity demanded?

Answer Options

A. 20%
B. 15%
Correct Answer C. 10%
D. 5%
Correct Answer
C
Correct Option:
10%

About This Question

This is Post Utme Abu 2024 Economics Question 36. It is one of the objective questions from the 2024 Post Utme Abu Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support