Post Utme Al Hikmah University 2021 Economics Question 1

Practice objective / multiple choice question 1 from the 2021 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2021 Economics Objective / Multiple Choice
Question 1 POST_UTME_AL-HIKMAH_UNIVERSITY • 2021 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the price elasticity of demand is 0.5, what is the price at which the quantity demanded is 60?

Answer Options

Correct Answer A. ₦20
B. ₦30
C. ₦40
D. ₦50
Correct Answer
A
Correct Option:
₦20

About This Question

This is Post Utme Al Hikmah University 2021 Economics Question 1. It is one of the objective questions from the 2021 Post Utme Al Hikmah University Economics examination.

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