Post Utme Igbinedion University 2024 Economics Question 7

Practice objective / multiple choice question 7 from the 2024 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2024 Economics Objective / Multiple Choice
Question 7 POST_UTME_IGBINEDION_UNIVERSITY • 2024 • ECONOMICS • objective

A firm is producing a product with a total revenue of ₦1,500 and a total \cost of ₦1,000. If the price elasticity of demand is 0.5, what is the price elasticity of supply?

Answer Options

A. 0.5
Correct Answer B. 1
C. 2
D. 3
Correct Answer
B
Correct Option:
1

About This Question

This is Post Utme Igbinedion University 2024 Economics Question 7. It is one of the objective questions from the 2024 Post Utme Igbinedion University Economics examination.

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