Post Utme Crawford University 2022 Economics Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2022 Economics Objective / Multiple Choice
Question 6 POST_UTME_CRAWFORD_UNIVERSITY • 2022 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve with an elasticity of -2. If the firm increases its price by 10%, what is the percentage change in quantity demanded?

Answer Options

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

About This Question

This is Post Utme Crawford University 2022 Economics Question 6. It is one of the objective questions from the 2022 Post Utme Crawford University Economics examination.

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