Post Utme Lautech 2024 Economics Question 38
Practice objective / multiple choice question 38 from the 2024 Post Utme Lautech Economics examination.
The supply of a product is given by the equation Qs = 50 + 2P, where Qs is the quantity supplied and P is the price. If the price elasticity of supply is 0.2, what is the percentage change in quantity supplied when the price increases by 15%?
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About This Question
This is Post Utme Lautech 2024 Economics Question 38. It is one of the objective questions from the 2024 Post Utme Lautech Economics examination.
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