Post Utme Ksu 2023 Economics Question 30

Practice objective / multiple choice question 30 from the 2023 Post Utme Ksu Economics examination.

Post Utme Ksu 2023 Economics Objective / Multiple Choice
Question 30 POST_UTME_KSU • 2023 • ECONOMICS • 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 current price is 20, calculate the firm's elasticity of demand.

Answer Options

Correct Answer A. \( E_d = 0.5 \)
B. \( E_d = 1 \)
C. \( E_d = 2 \)
D. \( E_d = -0.5 \)
Correct Answer
A
Correct Option:
\( E_d = 0.5 \)

About This Question

This is Post Utme Ksu 2023 Economics Question 30. It is one of the objective questions from the 2023 Post Utme Ksu Economics examination.

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