Post Utme Lead City University 2024 Economics Question 31

Practice objective / multiple choice question 31 from the 2024 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2024 Economics Objective / Multiple Choice
Question 31 POST_UTME_LEAD_CITY_UNIVERSITY • 2024 • ECONOMICS • objective

The demand for a commodity is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the price elasticity of demand is 0.5, find the price at which the quantity demanded is 60 units.

Answer Options

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

About This Question

This is Post Utme Lead City University 2024 Economics Question 31. It is one of the objective questions from the 2024 Post Utme Lead City University Economics examination.

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