Post Utme Igbinedion University 2021 Economics Question 9

Practice objective / multiple choice question 9 from the 2021 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2021 Economics Objective / Multiple Choice
Question 9 POST_UTME_IGBINEDION_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's supply function is given by Q = 2P, where Q is quantity supplied and P is price. If the firm's marginal \cost is ₦20, calculate the price elasticity of supply.

Answer Options

Correct Answer A. 0.5
B. 1
C. 2
D. 5
Correct Answer
A
Correct Option:
0.5

About This Question

This is Post Utme Igbinedion University 2021 Economics Question 9. It is one of the objective questions from the 2021 Post Utme Igbinedion University Economics examination.

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