Post Utme Ims U 2020 Economics Question 32

Practice objective / multiple choice question 32 from the 2020 Post Utme Ims U Economics examination.

Post Utme Ims U 2020 Economics Objective / Multiple Choice
Question 32 POST_UTME_IMS_U • 2020 • ECONOMICS • objective

The demand for a product is given by Qd = 100 - 2P and the supply is given by Qs = 2P - 10. If the market is in equilibrium, what is the elasticity of demand?

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 2020 Economics Question 32. It is one of the objective questions from the 2020 Post Utme Ims U Economics examination.

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