Post Utme Greenfield University 2021 Economics Question 33

Practice objective / multiple choice question 33 from the 2021 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2021 Economics Objective / Multiple Choice
Question 33 POST_UTME_GREENFIELD_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's demand curve is given by the equation Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm's marginal revenue is ₦500, what is the firm's price elasticity of demand?

Answer Options

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

About This Question

This is Post Utme Greenfield University 2021 Economics Question 33. It is one of the objective questions from the 2021 Post Utme Greenfield University Economics examination.

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