Post Utme Mountain Top University 2021 Economics Question 1
Practice objective / multiple choice question 1 from the 2021 Post Utme Mountain Top University Economics examination.
The government of Nigeria has introduced a new tax policy to increase revenue. The policy involves a 10% increase in the value-added tax (VAT) rate. Assuming the demand for a product is given by the equation Q = 100 - 2P, where Q is the quantity demanded and P is the price, and the initial VAT rate is 5%, calculate the new price at which the quantity demanded will be 80 units.
Answer Options
About This Question
This is Post Utme Mountain Top University 2021 Economics Question 1. It is one of the objective questions from the 2021 Post Utme Mountain Top University Economics examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.