Post Utme Elizade University 2019 Economics Question 25

Practice objective / multiple choice question 25 from the 2019 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2019 Economics Objective / Multiple Choice
Question 25 POST_UTME_ELIZADE_UNIVERSITY • 2019 • ECONOMICS • objective

A firm is producing a good with a total revenue of ₦1,500 and a total \cost of ₦1,200. If the price elasticity of demand is 0.8, what is the price elasticity of supply?

Answer Options

A. 0.8
Correct Answer B. 1.25
C. 0.5
D. 1.6
Correct Answer
B
Correct Option:
1.25

About This Question

This is Post Utme Elizade University 2019 Economics Question 25. It is one of the objective questions from the 2019 Post Utme Elizade University Economics examination.

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