Post Utme Elizade University 2017 Economics Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2017 Economics Objective / Multiple Choice
Question 11 POST_UTME_ELIZADE_UNIVERSITY • 2017 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the price elasticity of demand is cons\tant and equal to 2, what is the price at which the quantity demanded is 60?

Answer Options

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

About This Question

This is Post Utme Elizade University 2017 Economics Question 11. It is one of the objective questions from the 2017 Post Utme Elizade University Economics examination.

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