Post Utme Afe Babalola University 2023 Economics Question 26

Practice objective / multiple choice question 26 from the 2023 Post Utme Afe Babalola University Economics examination.

Post Utme Afe Babalola University 2023 Economics Objective / Multiple Choice
Question 26 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2023 • ECONOMICS • objective

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

Answer Options

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

About This Question

This is Post Utme Afe Babalola University 2023 Economics Question 26. It is one of the objective questions from the 2023 Post Utme Afe Babalola University Economics examination.

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