Post Utme Rhema University 2024 Economics Question 36

Practice objective / multiple choice question 36 from the 2024 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2024 Economics Objective / Multiple Choice
Question 36 POST_UTME_RHEMA_UNIVERSITY • 2024 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the price elasticity of demand is -2, what is the price at which the quantity demanded is 60?

Answer Options

A. ₦20
B. ₦30
Correct Answer C. ₦40
D. ₦50
Correct Answer
C
Correct Option:
₦40

About This Question

This is Post Utme Rhema University 2024 Economics Question 36. It is one of the objective questions from the 2024 Post Utme Rhema University Economics examination.

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