Post Utme Pan Atlantic University 2023 Economics Question 15

Practice objective / multiple choice question 15 from the 2023 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2023 Economics Objective / Multiple Choice
Question 15 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2023 • ECONOMICS • objective

Consider the following diagram showing the supply and demand curves for a product:\n\n[Diagram: Supply and Demand Curves]\n\nIf the price elasticity of supply is 2 and the price elasticity of demand is -2, what is the equilibrium price?

Answer Options

A. 10
B. 20
Correct Answer C. 30
D. 40
Correct Answer
C
Correct Option:
30

About This Question

This is Post Utme Pan Atlantic University 2023 Economics Question 15. It is one of the objective questions from the 2023 Post Utme Pan Atlantic University Economics examination.

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