Post Utme Lautech 2025 Economics Question 24
Practice objective / multiple choice question 24 from the 2025 Post Utme Lautech Economics examination.
A country's elasticity of demand is given by the equation E = \( ΔQd / ΔP \) × \( P / Qd \), where E is the elasticity of demand, ΔQd is the change in quantity demanded, ΔP is the change in price, P is the price, and Qd is the quantity demanded. If the country's demand curve is given by the equation Qd = 100 - 2P, what is the elasticity of demand when P = ₦30 and Qd = 40?
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This is Post Utme Lautech 2025 Economics Question 24. It is one of the objective questions from the 2025 Post Utme Lautech Economics examination.
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