Post Utme Lead City University 2021 Economics Question 10

Practice objective / multiple choice question 10 from the 2021 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2021 Economics Objective / Multiple Choice
Question 10 POST_UTME_LEAD_CITY_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's demand function is given by \( Q = 100 - 2P \) and the supply function is given by \( Q = 2P - 10 \). Find the elasticity of demand at a price of ₦20.

Answer Options

Correct Answer A. 0.5
B. 1.0
C. 1.5
D. 2.0
Correct Answer
A
Correct Option:
0.5

About This Question

This is Post Utme Lead City University 2021 Economics Question 10. It is one of the objective questions from the 2021 Post Utme Lead City University Economics examination.

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