Post Utme Al Hikmah University 2023 Economics Question 1

Practice objective / multiple choice question 1 from the 2023 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2023 Economics Objective / Multiple Choice
Question 1 POST_UTME_AL-HIKMAH_UNIVERSITY • 2023 • ECONOMICS • objective

A firm's demand curve for a product is given by the equation Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm's marginal revenue is 50, what is the price elasticity of demand?

Answer Options

Correct Answer A. -0.5
B. 0.5
C. 1
D. 2
Correct Answer
A
Correct Option:
-0.5

About This Question

This is Post Utme Al Hikmah University 2023 Economics Question 1. It is one of the objective questions from the 2023 Post Utme Al Hikmah University Economics examination.

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