Post Utme Al Hikmah University 2017 Economics Question 3

Practice objective / multiple choice question 3 from the 2017 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2017 Economics Objective / Multiple Choice
Question 3 POST_UTME_AL-HIKMAH_UNIVERSITY • 2017 • ECONOMICS • objective

The supply of a product is given by the equation Qs = 50 + 2P, where Qs is the quantity supplied and P is the price. If the price elasticity of supply is 0.8, what is the price at which the quantity supplied is 60?

Answer Options

A. ₦60
B. ₦80
Correct Answer C. ₦100
D. ₦120
Correct Answer
C
Correct Option:
₦100

About This Question

This is Post Utme Al Hikmah University 2017 Economics Question 3. It is one of the objective questions from the 2017 Post Utme Al Hikmah 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