Post Utme Lead City University 2019 Economics Question 23

Practice objective / multiple choice question 23 from the 2019 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2019 Economics Objective / Multiple Choice
Question 23 POST_UTME_LEAD_CITY_UNIVERSITY • 2019 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P. If the price elasticity of demand is -2, what is the price at which the firm should sell its product?

Answer Options

A. $20
Correct Answer B. $30
C. $40
D. $50
Correct Answer
B
Correct Option:
$30

About This Question

This is Post Utme Lead City University 2019 Economics Question 23. It is one of the objective questions from the 2019 Post Utme Lead City University Economics examination.

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