Post Utme Afe Babalola University 2017 Economics Question 22

Practice objective / multiple choice question 22 from the 2017 Post Utme Afe Babalola University Economics examination.

Post Utme Afe Babalola University 2017 Economics Objective / Multiple Choice
Question 22 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2017 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P + 3I. If the price elasticity of demand is -2 and the income elasticity of demand is 0.5, what is the cross-price elasticity of demand?

Answer Options

A. -1
Correct Answer B. -2
C. -3
D. -4
Correct Answer
B
Correct Option:
-2

About This Question

This is Post Utme Afe Babalola University 2017 Economics Question 22. It is one of the objective questions from the 2017 Post Utme Afe Babalola University 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