Post Utme Greenfield University 2020 Economics Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2020 Economics Objective / Multiple Choice
Question 1 POST_UTME_GREENFIELD_UNIVERSITY • 2020 • ECONOMICS • objective

Determine the price elasticity of demand for a product whose price increases from ₦100 to ₦120, and the quantity demanded decreases from 100 units to 80 units.

Answer Options

A. 0.5
Correct Answer B. 1.25
C. -0.5
D. -1.25
Correct Answer
B
Correct Option:
1.25

About This Question

This is Post Utme Greenfield University 2020 Economics Question 1. It is one of the objective questions from the 2020 Post Utme Greenfield University Economics examination.

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