Post Utme Abu 2024 Economics Question 40

Practice objective / multiple choice question 40 from the 2024 Post Utme Abu Economics examination.

Post Utme Abu 2024 Economics Objective / Multiple Choice
Question 40 POST_UTME_ABU • 2024 • ECONOMICS • objective

A monopolist faces a demand curve with elasticity of -3. If the firm increases its price by 15%, what is the percentage change in quantity demanded?

Answer Options

A. 25%
B. 20%
Correct Answer C. 15%
D. 10%
Correct Answer
C
Correct Option:
15%

About This Question

This is Post Utme Abu 2024 Economics Question 40. It is one of the objective questions from the 2024 Post Utme Abu Economics examination.

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