Post Utme Babcock University 2023 Economics Question 33

Practice objective / multiple choice question 33 from the 2023 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2023 Economics Objective / Multiple Choice

Question 33 POST_UTME_BABCOCK_UNIVERSITY • 2023 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P. If the price elasticity of demand is -2, what is the firm's revenue function?

Answer Options

Correct Answer A. R = 100P - 0.5P^2

B. R = 100P + 0.5P^2

C. R = 100P - 2P^2

D. R = 100P + 2P^2

Correct Answer

Correct Option:

R = 100P - 0.5P^2

About This Question

This is Post Utme Babcock University 2023 Economics Question 33. It is one of the objective questions from the 2023 Post Utme Babcock University Economics examination.

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