Post Utme Ims U 2019 Economics Question 21

Practice objective / multiple choice question 21 from the 2019 Post Utme Ims U Economics examination.

Post Utme Ims U 2019 Economics Objective / Multiple Choice
Question 21 POST_UTME_IMS_U • 2019 • 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 0.5, what is the price at which the quantity demanded is 60?

Answer Options

A. ₦20
Correct Answer B. ₦30
C. ₦40
D. ₦50
Correct Answer
B
Correct Option:
₦30

About This Question

This is Post Utme Ims U 2019 Economics Question 21. It is one of the objective questions from the 2019 Post Utme Ims U Economics examination.

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