Post Utme Ksu 2020 Commerce Question 7

Practice objective / multiple choice question 7 from the 2020 Post Utme Ksu Commerce examination.

Post Utme Ksu 2020 Commerce Objective / Multiple Choice
Question 7 POST_UTME_KSU • 2020 • COMMERCE • objective

A firm's demand function is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm's marginal revenue is 50, what is its price elasticity of demand?

Answer Options

A. -0.5
Correct Answer B. -1
C. -2
D. -5
Correct Answer
B
Correct Option:
-1

About This Question

This is Post Utme Ksu 2020 Commerce Question 7. It is one of the objective questions from the 2020 Post Utme Ksu Commerce 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