Post Utme Babcock University 2017 Economics Question 14

Practice objective / multiple choice question 14 from the 2017 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2017 Economics Objective / Multiple Choice
Question 14 POST_UTME_BABCOCK_UNIVERSITY • 2017 • ECONOMICS • objective

A firm's demand curve is given by Q = 100 - 2P and its marginal revenue function is MR = 200 - 2P. Find the firm's price elasticity of demand at a price of ₦50.

Answer Options

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

About This Question

This is Post Utme Babcock University 2017 Economics Question 14. It is one of the objective questions from the 2017 Post Utme Babcock University Economics examination.

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