Post Utme Ims U 2018 Economics Question 4

Practice objective / multiple choice question 4 from the 2018 Post Utme Ims U Economics examination.

Post Utme Ims U 2018 Economics Objective / Multiple Choice
Question 4 POST_UTME_IMS_U • 2018 • 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 supply function is Qs = 2P - 10, find the price elasticity of demand at the equilibrium price.

Answer Options

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

About This Question

This is Post Utme Ims U 2018 Economics Question 4. It is one of the objective questions from the 2018 Post Utme Ims U Economics examination.

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