Post Utme Bowen University 2024 Economics Question 29

Practice objective / multiple choice question 29 from the 2024 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2024 Economics Objective / Multiple Choice
Question 29 POST_UTME_BOWEN_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the price is increased by 10%, what is the percentage change in quantity demanded?

Answer Options

A. -5%
Correct Answer B. -10%
C. -15%
D. -20%
Correct Answer
B
Correct Option:
-10%

About This Question

This is Post Utme Bowen University 2024 Economics Question 29. It is one of the objective questions from the 2024 Post Utme Bowen University Economics examination.

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