Post Utme Greenfield University 2021 Economics Question 34

Practice objective / multiple choice question 34 from the 2021 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2021 Economics Objective / Multiple Choice
Question 34 POST_UTME_GREENFIELD_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's supply curve is given by the equation Q = 2P + 50, where Q is the quantity supplied and P is the price. If the firm's marginal \cost is ₦200, what is the firm's price elasticity of supply?

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 Greenfield University 2021 Economics Question 34. It is one of the objective questions from the 2021 Post Utme Greenfield University Economics examination.

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