Post Utme Elizade University 2017 Commerce Question 4

Practice objective / multiple choice question 4 from the 2017 Post Utme Elizade University Commerce examination.

Post Utme Elizade University 2017 Commerce Objective / Multiple Choice
Question 4 POST_UTME_ELIZADE_UNIVERSITY • 2017 • COMMERCE • objective

A firm's demand function is given by Q = 100 - 2P. If the price is increased by 10%, by what percentage will the quantity demanded decrease?

Answer Options

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

About This Question

This is Post Utme Elizade University 2017 Commerce Question 4. It is one of the objective questions from the 2017 Post Utme Elizade University Commerce examination.

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