Post Utme Lasu 2023 Economics Question 31

Practice objective / multiple choice question 31 from the 2023 Post Utme Lasu Economics examination.

Post Utme Lasu 2023 Economics Objective / Multiple Choice
Question 31 POST_UTME_LASU • 2023 • ECONOMICS • objective

In a perfectly competitive market, the demand curve for a firm's product is perfectly elastic. If the market price increases by 10%, what is the percentage change in the quantity demanded of the product?

Answer Options

A. -10%
Correct Answer B. 0%
C. 10%
D. 20%
Correct Answer
B
Correct Option:
0%

About This Question

This is Post Utme Lasu 2023 Economics Question 31. It is one of the objective questions from the 2023 Post Utme Lasu 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