Post Utme Covenant University 2022 Economics Question 27

Practice objective / multiple choice question 27 from the 2022 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2022 Economics Objective / Multiple Choice
Question 27 POST_UTME_COVENANT_UNIVERSITY • 2022 • ECONOMICS • objective

A firm is producing a good with a total revenue of ₦100,000 and a total \cost of ₦80,000. If the price elasticity of demand is 0.5, what is the price elasticity of supply?

Answer Options

A. 0.5
B. 1
Correct Answer C. 2
D. 3
Correct Answer
C
Correct Option:
2

About This Question

This is Post Utme Covenant University 2022 Economics Question 27. It is one of the objective questions from the 2022 Post Utme Covenant 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