Post Utme Babcock University 2022 Economics Question 28
Practice objective / multiple choice question 28 from the 2022 Post Utme Babcock University Economics examination.
The government of Nigeria has implemented a policy to increase the production of rice. The supply function for rice is given by Qs = 100 + 2P, where Qs is the quantity supplied and P is the price. If the price elasticity of supply is 0.8, what is the percentage change in quantity supplied when the price increases by 15%?
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About This Question
This is Post Utme Babcock University 2022 Economics Question 28. It is one of the objective questions from the 2022 Post Utme Babcock University Economics examination.
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