Post Utme Futo 2022 Economics Question 11

Practice objective / multiple choice question 11 from the 2022 Post Utme Futo Economics examination.

Post Utme Futo 2022 Economics Objective / Multiple Choice
Question 11 POST_UTME_FUTO • 2022 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the price elasticity of demand is 0.5, what is the price at which the quantity demanded is 60?

Answer Options

A. ₦20
Correct Answer B. ₦30
C. ₦40
D. ₦50
Correct Answer
B
Correct Option:
₦30

About This Question

This is Post Utme Futo 2022 Economics Question 11. It is one of the objective questions from the 2022 Post Utme Futo Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support