Post Utme Caleb University 2022 Economics Question 11

Practice objective / multiple choice question 11 from the 2022 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2022 Economics Objective / Multiple Choice
Question 11 POST_UTME_CALEB_UNIVERSITY • 2022 • ECONOMICS • objective

The elasticity of demand for a product is estimated to be -2. If the price of the product increases by 10%, what is the percentage change in the quantity demanded?

Answer Options

Correct Answer A. -20%
B. -10%
C. 0%
D. +10%
Correct Answer
A
Correct Option:
-20%

About This Question

This is Post Utme Caleb University 2022 Economics Question 11. It is one of the objective questions from the 2022 Post Utme Caleb University Economics examination.

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