Post Utme Al Hikmah University 2024 Economics Question 1

Practice objective / multiple choice question 1 from the 2024 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2024 Economics Objective / Multiple Choice
Question 1 POST_UTME_AL-HIKMAH_UNIVERSITY • 2024 • ECONOMICS • objective

Determine the value of the elasticity of demand for a product whose price elasticity of demand is 0.8 and whose quantity demanded decreases by 15% when the price increases by 10%.

Answer Options

Correct Answer A. 0.6
B. 0.8
C. 1.2
D. 1.5
Correct Answer
A
Correct Option:
0.6

About This Question

This is Post Utme Al Hikmah University 2024 Economics Question 1. It is one of the objective questions from the 2024 Post Utme Al Hikmah University Economics examination.

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