Post Utme Madonna University 2021 Economics Question 11
Practice objective / multiple choice question 11 from the 2021 Post Utme Madonna University Economics examination.
The elasticity of demand for a product is given by the formula \( eta = \frac{dQ}{dP} cdot \frac{P}{Q} \). If the price elasticity of demand for a product is 0.5 and the percentage change in quantity demanded is 10%, what is the percentage change in price?
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About This Question
This is Post Utme Madonna University 2021 Economics Question 11. It is one of the objective questions from the 2021 Post Utme Madonna University Economics examination.
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