Post Utme Christopher University 2021 Economics Question 45

Practice objective / multiple choice question 45 from the 2021 Post Utme Christopher University Economics examination.

Post Utme Christopher University 2021 Economics Objective / Multiple Choice
Question 45 POST_UTME_CHRISTOPHER_UNIVERSITY • 2021 • ECONOMICS • objective

A firm has a demand curve with a cons\tant elasticity of -3. If the firm increases its price by 15%, what is the percentage change in quantity demanded?

Answer Options

A. -20%
Correct Answer B. -25%
C. -30%
D. -35%
Correct Answer
B
Correct Option:
-25%

About This Question

This is Post Utme Christopher University 2021 Economics Question 45. It is one of the objective questions from the 2021 Post Utme Christopher University Economics examination.

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