Post Utme Greenfield University 2022 Commerce Question 25

Practice objective / multiple choice question 25 from the 2022 Post Utme Greenfield University Commerce examination.

Post Utme Greenfield University 2022 Commerce Objective / Multiple Choice
Question 25 POST_UTME_GREENFIELD_UNIVERSITY • 2022 • COMMERCE • objective

A firm's demand curve is a graphical representation of the relationship between the price of a product and the quantity demanded. What is the primary purpose of a demand curve?

Answer Options

A. To determine the optimal price for a product.
Correct Answer B. To determine the quantity demanded at a given price.
C. To determine the elasticity of demand.
D. To determine the cross-price elasticity of demand.
Correct Answer
B
Correct Option:
To determine the quantity demanded at a given price.

About This Question

This is Post Utme Greenfield University 2022 Commerce Question 25. It is one of the objective questions from the 2022 Post Utme Greenfield University Commerce examination.

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