Post Utme Pan Atlantic University 2022 Economics Question 15

Practice objective / multiple choice question 15 from the 2022 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2022 Economics Objective / Multiple Choice
Question 15 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2022 • ECONOMICS • objective

A firm's elasticity of demand is given by the equation E = 0.5P, where E is the elasticity and P is the price. If the firm's price is ₦50, what is its elasticity of demand?

Answer Options

A. 0.25
Correct Answer B. 0.5
C. 0.75
D. 1.0
Correct Answer
B
Correct Option:
0.5

About This Question

This is Post Utme Pan Atlantic University 2022 Economics Question 15. It is one of the objective questions from the 2022 Post Utme Pan Atlantic University Economics examination.

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