Post Utme Igbinedion University 2017 Economics Question 16

Practice objective / multiple choice question 16 from the 2017 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2017 Economics Objective / Multiple Choice
Question 16 POST_UTME_IGBINEDION_UNIVERSITY • 2017 • 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 cons\tant, what is the value of the price elasticity of demand?

Answer Options

A. 2
Correct Answer B. -2
C. 0.5
D. -0.5
Correct Answer
B
Correct Option:
-2

About This Question

This is Post Utme Igbinedion University 2017 Economics Question 16. It is one of the objective questions from the 2017 Post Utme Igbinedion University Economics examination.

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