Post Utme Coal City University 2023 Economics Question 11

Practice objective / multiple choice question 11 from the 2023 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2023 Economics Objective / Multiple Choice
Question 11 POST_UTME_COAL_CITY_UNIVERSITY • 2023 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the price elasticity of demand is 0.5, what is the price at which the quantity demanded is 50?

Answer Options

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

About This Question

This is Post Utme Coal City University 2023 Economics Question 11. It is one of the objective questions from the 2023 Post Utme Coal City 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