Post Utme Rhema University 2025 Economics Question 23

Practice objective / multiple choice question 23 from the 2025 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2025 Economics Objective / Multiple Choice
Question 23 POST_UTME_RHEMA_UNIVERSITY • 2025 • ECONOMICS • objective

A firm's demand function for a good is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the firm's current price is 20, what is the price elasticity of demand?

Answer Options

A. 0.5
Correct Answer B. 1
C. 2
D. 4
Correct Answer
B
Correct Option:
1

About This Question

This is Post Utme Rhema University 2025 Economics Question 23. It is one of the objective questions from the 2025 Post Utme Rhema University Economics examination.

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