Post Utme Pan Atlantic University 2024 Economics Question 1

Practice objective / multiple choice question 1 from the 2024 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2024 Economics Objective / Multiple Choice
Question 1 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's demand for raw materials is elastic with respect to price. If the price of raw materials increases by 10%, what will be the percentage change in the quantity demanded?

Answer Options

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

About This Question

This is Post Utme Pan Atlantic University 2024 Economics Question 1. It is one of the objective questions from the 2024 Post Utme Pan Atlantic University Economics examination.

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