Post Utme Covenant University 2022 Economics Question 11
Practice objective / multiple choice question 11 from the 2022 Post Utme Covenant University Economics examination.
The elasticity of demand for a commodity is measured by the percentage change in the quantity demanded in response to a 1% change in the price. If the price elasticity of demand for a commodity is 0.5, what is the percentage change in the quantity demanded if the price increases by 10%?
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This is Post Utme Covenant University 2022 Economics Question 11. It is one of the objective questions from the 2022 Post Utme Covenant University Economics examination.
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