Post Utme Redeemers University 2017 Economics Question 5

Practice objective / multiple choice question 5 from the 2017 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2017 Economics Objective / Multiple Choice
Question 5 POST_UTME_REDEEMERS_UNIVERSITY • 2017 • ECONOMICS • objective

A diagram of a simple supply and demand curve is shown below. If the equilibrium price is ₦150 and the quantity demanded is 120 units, what is the price elasticity of demand?

Answer Options

Correct Answer A. 0.8
B. 1.2
C. 1.5
D. 2.0
Correct Answer
A
Correct Option:
0.8

About This Question

This is Post Utme Redeemers University 2017 Economics Question 5. It is one of the objective questions from the 2017 Post Utme Redeemers University Economics examination.

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