Post Utme Bowen University 2022 Commerce Question 7

Practice objective / multiple choice question 7 from the 2022 Post Utme Bowen University Commerce examination.

Post Utme Bowen University 2022 Commerce Objective / Multiple Choice
Question 7 POST_UTME_BOWEN_UNIVERSITY • 2022 • COMMERCE • objective

A firm's demand function is given by the equation Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm increases its price from ₦100 to ₦120, by how much will the quantity demanded decrease?

Answer Options

A. 10%
Correct Answer B. 20%
C. 30%
D. 40%
Correct Answer
B
Correct Option:
20%

About This Question

This is Post Utme Bowen University 2022 Commerce Question 7. It is one of the objective questions from the 2022 Post Utme Bowen University Commerce examination.

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