Post Utme Osustech 2019 Economics Question 23

Practice objective / multiple choice question 23 from the 2019 Post Utme Osustech Economics examination.

Post Utme Osustech 2019 Economics Objective / Multiple Choice
Question 23 POST_UTME_OSUSTECH • 2019 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P. If the firm's marginal revenue function is MR = 200 - 2Q, what is the price elasticity of demand?

Answer Options

A. 0.5
B. 1.0
Correct Answer C. 2.0
D. 3.0
Correct Answer
C
Correct Option:
2.0

About This Question

This is Post Utme Osustech 2019 Economics Question 23. It is one of the objective questions from the 2019 Post Utme Osustech Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support