Post Utme Al Hikmah University 2019 Economics Question 34

Practice objective / multiple choice question 34 from the 2019 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2019 Economics Objective / Multiple Choice
Question 34 POST_UTME_AL-HIKMAH_UNIVERSITY • 2019 • ECONOMICS • objective

A firm's demand curve is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm's total revenue (TR) is given by TR = P * Q, calculate the price elasticity of demand when the price is ₦30.

Answer Options

A. 0.5
B. 1.0
Correct Answer C. 2.0
D. 3.0
Correct Answer
C
Correct Option:
2.0

About This Question

This is Post Utme Al Hikmah University 2019 Economics Question 34. It is one of the objective questions from the 2019 Post Utme Al Hikmah University Economics examination.

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