Post Utme Futa 2021 Economics Question 23

Practice objective / multiple choice question 23 from the 2021 Post Utme Futa Economics examination.

Post Utme Futa 2021 Economics Objective / Multiple Choice
Question 23 POST_UTME_FUTA • 2021 • ECONOMICS • objective

A monopolist faces a demand curve with a price elasticity of -3. If the firm increases its price by 15%, what is the percentage change in quantity demanded?

Answer Options

Correct Answer A. -45%
B. -30%
C. -20%
D. -15%
Correct Answer
A
Correct Option:
-45%

About This Question

This is Post Utme Futa 2021 Economics Question 23. It is one of the objective questions from the 2021 Post Utme Futa Economics examination.

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