Post Utme Lautech 2025 Economics Question 26

Practice objective / multiple choice question 26 from the 2025 Post Utme Lautech Economics examination.

Post Utme Lautech 2025 Economics Objective / Multiple Choice
Question 26 POST_UTME_LAUTECH • 2025 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve with an elasticity of -2. If the firm increases its price by 10%, what is the percentage change in quantity demanded?

Answer Options

A. -20%
B. -15%
Correct Answer C. -10%
D. -5%
Correct Answer
C
Correct Option:
-10%

About This Question

This is Post Utme Lautech 2025 Economics Question 26. It is one of the objective questions from the 2025 Post Utme Lautech Economics examination.

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