Post Utme Elizade University 2017 Economics Question 21

Practice objective / multiple choice question 21 from the 2017 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2017 Economics Objective / Multiple Choice
Question 21 POST_UTME_ELIZADE_UNIVERSITY • 2017 • ECONOMICS • objective

Calculate the price elasticity of demand for a product whose price is reduced from ₦100 to ₦90, and the quantity demanded increases from 100 units to 120 units.

Answer Options

A. 0.5
Correct Answer B. 1.0
C. 1.5
D. 2.0
Correct Answer
B
Correct Option:
1.0

About This Question

This is Post Utme Elizade University 2017 Economics Question 21. It is one of the objective questions from the 2017 Post Utme Elizade 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