Post Utme Coal City University 2021 Economics Question 8

Practice objective / multiple choice question 8 from the 2021 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2021 Economics Objective / Multiple Choice
Question 8 POST_UTME_COAL_CITY_UNIVERSITY • 2021 • ECONOMICS • objective

A firm faces a demand curve given by Qd = 100 - 2P and a supply curve given by Qs = 50 + 2P. If the firm produces 30 units of the good, what is the elasticity of demand?

Answer Options

A. 0.5
Correct Answer B. 1.0
C. 1.5
D. 2.0
Correct Answer
B
Correct Option:
1.0

About This Question

This is Post Utme Coal City University 2021 Economics Question 8. It is one of the objective questions from the 2021 Post Utme Coal City University Economics examination.

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