Post Utme Futo 2020 Economics Question 21

Practice objective / multiple choice question 21 from the 2020 Post Utme Futo Economics examination.

Post Utme Futo 2020 Economics Objective / Multiple Choice
Question 21 POST_UTME_FUTO • 2020 • ECONOMICS • objective

The elasticity of demand for a product is -2. If the price of the product increases by 10%, what is the percentage change in the quantity demanded?

Answer Options

Correct Answer A. -20%
B. -10%
C. 0%
D. 10%
Correct Answer
A
Correct Option:
-20%

About This Question

This is Post Utme Futo 2020 Economics Question 21. It is one of the objective questions from the 2020 Post Utme Futo Economics examination.

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