Post Utme Lead City University 2019 Commerce Question 7
Practice objective / multiple choice question 7 from the 2019 Post Utme Lead City University Commerce examination.
A firm imports a commodity from a foreign country. The terms of trade are given by the equation P = 100Q^(-0.2), where P is the price of the commodity in naira, and Q is the quantity imported in units. If the firm wants to import 1000 units of the commodity, what is the price of the commodity in naira?
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About This Question
This is Post Utme Lead City University 2019 Commerce Question 7. It is one of the objective questions from the 2019 Post Utme Lead City University Commerce examination.
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