Post Utme Igbinedion University 2021 Economics Question 11
Practice objective / multiple choice question 11 from the 2021 Post Utme Igbinedion University Economics examination.
The elasticity of demand for a commodity is given by the formula \( eta = \frac{P}{Q} \frac{dQ}{dP} \). If the price of the commodity increases by 10% and the quantity demanded decreases by 5%, what is the elasticity of demand?
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About This Question
This is Post Utme Igbinedion University 2021 Economics Question 11. It is one of the objective questions from the 2021 Post Utme Igbinedion University Economics examination.
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