Post Utme Caleb University 2023 Economics Question 22

Practice objective / multiple choice question 22 from the 2023 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2023 Economics Objective / Multiple Choice
Question 22 POST_UTME_CALEB_UNIVERSITY • 2023 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P. If the price elasticity of demand is -2, what is the price at which the firm will sell 50 units?

Answer Options

A. ₦20
Correct Answer B. ₦30
C. ₦40
D. ₦50
Correct Answer
B
Correct Option:
₦30

About This Question

This is Post Utme Caleb University 2023 Economics Question 22. It is one of the objective questions from the 2023 Post Utme Caleb University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support