Post Utme Futo 2019 Economics Question 16

Practice objective / multiple choice question 16 from the 2019 Post Utme Futo Economics examination.

Post Utme Futo 2019 Economics Objective / Multiple Choice
Question 16 POST_UTME_FUTO • 2019 • ECONOMICS • objective

The demand for a good is given by the equation: Qd = 100 - 2P. The supply of the good is given by the equation: Qs = 2P. What is the price elasticity of demand?

Answer Options

Correct Answer A. PED = 0.5
B. PED = 1
C. PED = 2
D. PED = 3
Correct Answer
A
Correct Option:
PED = 0.5

About This Question

This is Post Utme Futo 2019 Economics Question 16. It is one of the objective questions from the 2019 Post Utme Futo Economics examination.

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