Post Utme Ksu 2022 Economics Question 7

Practice objective / multiple choice question 7 from the 2022 Post Utme Ksu Economics examination.

Post Utme Ksu 2022 Economics Objective / Multiple Choice
Question 7 POST_UTME_KSU • 2022 • ECONOMICS • objective

A firm is producing a product with a total revenue of ₦120,000 and a total \cost of ₦80,000. If the price elasticity of demand for the product is 0.5, find the price and quantity of the product.

Answer Options

A. ₦20,000
B. ₦30,000
Correct Answer C. ₦25,000
D. ₦35,000
Correct Answer
C
Correct Option:
₦25,000

About This Question

This is Post Utme Ksu 2022 Economics Question 7. It is one of the objective questions from the 2022 Post Utme Ksu 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