Post Utme Bells University 2018 Economics Question 39

Practice objective / multiple choice question 39 from the 2018 Post Utme Bells University Economics examination.

Post Utme Bells University 2018 Economics Objective / Multiple Choice
Question 39 POST_UTME_BELLS_UNIVERSITY • 2018 • ECONOMICS • objective

A monopolist faces a demand curve with an elasticity of -3. If the firm increases its price by 5%, what is the percentage change in quantity demanded?

Answer Options

Correct Answer A. -15%
B. -12%
C. -10%
D. -8%
Correct Answer
A
Correct Option:
-15%

About This Question

This is Post Utme Bells University 2018 Economics Question 39. It is one of the objective questions from the 2018 Post Utme Bells University Economics examination.

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