Post Utme Bowen University 2024 Economics Question 4

Practice objective / multiple choice question 4 from the 2024 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2024 Economics Objective / Multiple Choice
Question 4 POST_UTME_BOWEN_UNIVERSITY • 2024 • ECONOMICS • objective

A firm is producing a homogeneous product with a cons\tant elasticity of demand of 0.5. If the firm's revenue is ₦2,000,000, calculate the price elasticity of demand.

Answer Options

A. 0.2
Correct Answer B. 0.5
C. 0.8
D. 1.0
Correct Answer
B
Correct Option:
0.5

About This Question

This is Post Utme Bowen University 2024 Economics Question 4. It is one of the objective questions from the 2024 Post Utme Bowen University Economics examination.

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