Post Utme Esut 2017 Economics Question 27

Practice objective / multiple choice question 27 from the 2017 Post Utme Esut Economics examination.

Post Utme Esut 2017 Economics Objective / Multiple Choice
Question 27 POST_UTME_ESUT • 2017 • ECONOMICS • objective

A firm is producing a good with a cons\tant elasticity of demand of 0.8. If the price of the good increases by 15%, what is the percentage change in quantity demanded?

Answer Options

A. 10%
Correct Answer B. 12%
C. 15%
D. 18%
Correct Answer
B
Correct Option:
12%

About This Question

This is Post Utme Esut 2017 Economics Question 27. It is one of the objective questions from the 2017 Post Utme Esut Economics examination.

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