Post Utme Mountain Top University 2023 Economics Question 5

Practice objective / multiple choice question 5 from the 2023 Post Utme Mountain Top University Economics examination.

Post Utme Mountain Top University 2023 Economics Objective / Multiple Choice
Question 5 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2023 • ECONOMICS • objective

A consumer has a budget of ₦1000 and faces a price of ₦200 for a good. If the consumer's income elasticity of demand is 0.5, what is the consumer's demand for the good?

Answer Options

A. \( Q = 2 \)
Correct Answer B. \( Q = 3 \)
C. \( Q = 4 \)
D. \( Q = 5 \)
Correct Answer
B
Correct Option:
\( Q = 3 \)

About This Question

This is Post Utme Mountain Top University 2023 Economics Question 5. It is one of the objective questions from the 2023 Post Utme Mountain Top University Economics examination.

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