Post Utme Ksu 2018 Economics Question 11

Practice objective / multiple choice question 11 from the 2018 Post Utme Ksu Economics examination.

Post Utme Ksu 2018 Economics Objective / Multiple Choice
Question 11 POST_UTME_KSU • 2018 • ECONOMICS • objective

A firm's demand curve is given by Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the price elasticity of demand is -2, what is the percentage change in quantity demanded when the price increases by 10%?

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 Ksu 2018 Economics Question 11. It is one of the objective questions from the 2018 Post Utme Ksu Economics examination.

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