Post Utme Futa 2022 Economics Question 29

Practice objective / multiple choice question 29 from the 2022 Post Utme Futa Economics examination.

Post Utme Futa 2022 Economics Objective / Multiple Choice
Question 29 POST_UTME_FUTA • 2022 • ECONOMICS • objective

A monopolist faces a demand curve with a price elasticity of -2. If the monopolist increases the price by 10%, what is the percentage change in quantity demanded?

Answer Options

Correct Answer A. -20%
B. -15%
C. -10%
D. -5%
Correct Answer
A
Correct Option:
-20%

About This Question

This is Post Utme Futa 2022 Economics Question 29. It is one of the objective questions from the 2022 Post Utme Futa Economics examination.

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