Post Utme Babcock University 2024 Economics Question 15

Practice objective / multiple choice question 15 from the 2024 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2024 Economics Objective / Multiple Choice
Question 15 POST_UTME_BABCOCK_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's elasticity of demand is 0.5. If the price of its product increases by 10%, what will happen to its revenue?

Answer Options

A. Increase by 5%
Correct Answer B. Decrease by 5%
C. Increase by 10%
D. Decrease by 10%
Correct Answer
B
Correct Option:
Decrease by 5%

About This Question

This is Post Utme Babcock University 2024 Economics Question 15. It is one of the objective questions from the 2024 Post Utme Babcock University Economics examination.

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