Post Utme Ims U 2021 Economics Question 35

Practice objective / multiple choice question 35 from the 2021 Post Utme Ims U Economics examination.

Post Utme Ims U 2021 Economics Objective / Multiple Choice
Question 35 POST_UTME_IMS_U • 2021 • ECONOMICS • objective

A firm's demand curve is given by Q = 100 - 2P. What is the firm's price elasticity of demand (PED) when P = 20?

Answer Options

Correct Answer A. PED = 0.5
B. PED = 1
C. PED = 2
D. PED = 4
Correct Answer
A
Correct Option:
PED = 0.5

About This Question

This is Post Utme Ims U 2021 Economics Question 35. It is one of the objective questions from the 2021 Post Utme Ims U Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support