Post Utme Noun 2019 Economics Question 6

Practice objective / multiple choice question 6 from the 2019 Post Utme Noun Economics examination.

Post Utme Noun 2019 Economics Objective / Multiple Choice
Question 6 POST_UTME_NOUN • 2019 • ECONOMICS • objective

The elasticity of demand for a product is 0.5. If the price of the product increases by 10%, what is the percentage change in the quantity demanded?

Answer Options

Correct Answer A. 5%
B. 10%
C. 15%
D. 20%
Correct Answer
A
Correct Option:
5%

About This Question

This is Post Utme Noun 2019 Economics Question 6. It is one of the objective questions from the 2019 Post Utme Noun Economics examination.

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