Post Utme Coal City University 2024 Economics Question 3

Practice objective / multiple choice question 3 from the 2024 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2024 Economics Objective / Multiple Choice
Question 3 POST_UTME_COAL_CITY_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the firm's price increases by 20%, what is the percentage change in quantity demanded?

Answer Options

Correct Answer A. -20%
B. -15%
C. -10%
D. -5%
Correct Answer
A
Correct Option:
-20%

About This Question

This is Post Utme Coal City University 2024 Economics Question 3. It is one of the objective questions from the 2024 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