Post Utme Afe Babalola University 2017 Commerce Question 16

Practice objective / multiple choice question 16 from the 2017 Post Utme Afe Babalola University Commerce examination.

Post Utme Afe Babalola University 2017 Commerce Objective / Multiple Choice
Question 16 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2017 • COMMERCE • objective

The following diagram shows a demand curve for a product. If the price elasticity of demand is 0.5, what is the percentage change in quantity demanded if the price increases by 10%?

Answer Options

Correct Answer A. 5%
B. 10%
C. 20%
D. 30%
Correct Answer
A
Correct Option:
5%

About This Question

This is Post Utme Afe Babalola University 2017 Commerce Question 16. It is one of the objective questions from the 2017 Post Utme Afe Babalola University Commerce examination.

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