Post Utme Covenant University 2017 Commerce Question 25

Practice objective / multiple choice question 25 from the 2017 Post Utme Covenant University Commerce examination.

Post Utme Covenant University 2017 Commerce Objective / Multiple Choice
Question 25 POST_UTME_COVENANT_UNIVERSITY • 2017 • COMMERCE • objective

A firm's demand function is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm increases its price from ₦10 to ₦12, by how many units will its quantity demanded decrease?

Answer Options

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

About This Question

This is Post Utme Covenant University 2017 Commerce Question 25. It is one of the objective questions from the 2017 Post Utme Covenant University Commerce 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