Post Utme Noun 2017 Economics Question 5

Practice objective / multiple choice question 5 from the 2017 Post Utme Noun Economics examination.

Post Utme Noun 2017 Economics Objective / Multiple Choice
Question 5 POST_UTME_NOUN • 2017 • ECONOMICS • objective

A firm in Nigeria produces a good with a cons\tant elasticity of demand. If the price of the good increases by 10%, what happens to the quantity demanded?

Answer Options

A. Quantity demanded increases by 10%
Correct Answer B. Quantity demanded decreases by 10%
C. Quantity demanded remains the same
D. Quantity demanded increases by 20%
Correct Answer
B
Correct Option:
Quantity demanded decreases by 10%

About This Question

This is Post Utme Noun 2017 Economics Question 5. It is one of the objective questions from the 2017 Post Utme Noun Economics examination.

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