Post Utme Madonna University 2017 Economics Question 7

Practice objective / multiple choice question 7 from the 2017 Post Utme Madonna University Economics examination.

Post Utme Madonna University 2017 Economics Objective / Multiple Choice
Question 7 POST_UTME_MADONNA_UNIVERSITY • 2017 • ECONOMICS • objective

A firm is producing a good with a cons\tant elasticity of demand of 2. If the price of the good increases by 10%, what will be the percentage change in the quantity demanded?

Answer Options

Correct Answer A. -20%
B. -10%
C. 0%
D. +10%
Correct Answer
A
Correct Option:
-20%

About This Question

This is Post Utme Madonna University 2017 Economics Question 7. It is one of the objective questions from the 2017 Post Utme Madonna University Economics examination.

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