Post Utme Bsu 2017 Commerce Question 15

Practice objective / multiple choice question 15 from the 2017 Post Utme Bsu Commerce examination.

Post Utme Bsu 2017 Commerce Objective / Multiple Choice
Question 15 POST_UTME_BSU • 2017 • COMMERCE • objective

A consumer is considering the purchase of a product with a price of ₦500. Using the concept of elasticity of demand, determine the minimum price increase required to reduce demand by 20%.

Answer Options

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

About This Question

This is Post Utme Bsu 2017 Commerce Question 15. It is one of the objective questions from the 2017 Post Utme Bsu Commerce examination.

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