Post Utme Redeemers University 2017 Economics Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2017 Economics Objective / Multiple Choice
Question 1 POST_UTME_REDEEMERS_UNIVERSITY • 2017 • ECONOMICS • objective

Determine the value of the elasticity of demand for a product whose price elasticity of demand is 0.8 and the quantity demanded is 120 units when the price is ₦150.

Answer Options

A. 0.6
Correct Answer B. 0.8
C. 1.2
D. 1.5
Correct Answer
B
Correct Option:
0.8

About This Question

This is Post Utme Redeemers University 2017 Economics Question 1. It is one of the objective questions from the 2017 Post Utme Redeemers University 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