Post Utme Futo 2021 Economics Question 1

Practice objective / multiple choice question 1 from the 2021 Post Utme Futo Economics examination.

Post Utme Futo 2021 Economics Objective / Multiple Choice
Question 1 POST_UTME_FUTO • 2021 • ECONOMICS • objective

Determine the value of the elasticity of demand for a firm that experiences a 10% increase in price, resulting in a 5% decrease in quantity demanded.

Answer Options

A. 0.5
Correct Answer B. 1.0
C. 1.5
D. 2.0
Correct Answer
B
Correct Option:
1.0

About This Question

This is Post Utme Futo 2021 Economics Question 1. It is one of the objective questions from the 2021 Post Utme Futo Economics examination.

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