Post Utme Bells University 2022 Economics Question 37

Practice objective / multiple choice question 37 from the 2022 Post Utme Bells University Economics examination.

Post Utme Bells University 2022 Economics Objective / Multiple Choice
Question 37 POST_UTME_BELLS_UNIVERSITY • 2022 • ECONOMICS • objective

A firm is producing a product with a total revenue of ₦1,500 and a total \cost of ₦1,200. If the price elasticity of demand is 0.8, what is the price at which the firm should produce the product?

Answer Options

A. ₦10
B. ₦12
Correct Answer C. ₦15
D. ₦18
Correct Answer
C
Correct Option:
₦15

About This Question

This is Post Utme Bells University 2022 Economics Question 37. It is one of the objective questions from the 2022 Post Utme Bells University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support