Post Utme Bowen University 2024 Economics Question 1

Practice objective / multiple choice question 1 from the 2024 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2024 Economics Objective / Multiple Choice

Question 1 POST_UTME_BOWEN_UNIVERSITY • 2024 • ECONOMICS • objective

Calculate the value of the elasticity of demand for a firm producing a homogeneous product, given that the price elasticity of demand is 0.8 and the firm's revenue is ₦1,500,000.

Answer Options

Correct Answer A. ₦1,200,000

B. ₦1,800,000

C. ₦2,100,000

D. ₦2,400,000

Correct Answer

Correct Option:

₦1,200,000

About This Question

This is Post Utme Bowen University 2024 Economics Question 1. It is one of the objective questions from the 2024 Post Utme Bowen University Economics examination.

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