Post Utme Rsu 2021 Economics Question 34

Practice objective / multiple choice question 34 from the 2021 Post Utme Rsu Economics examination.

Post Utme Rsu 2021 Economics Objective / Multiple Choice
Question 34 POST_UTME_RSU • 2021 • ECONOMICS • objective

A country's elasticity of demand for a product is given by the equation E = -2P/Q, where P is the price and Q is the quantity demanded. If the price is ₦50 and the quantity demanded is 20 units, find the elasticity of demand.

Answer Options

A. -1
Correct Answer B. -2
C. -3
D. -4
Correct Answer
B
Correct Option:
-2

About This Question

This is Post Utme Rsu 2021 Economics Question 34. It is one of the objective questions from the 2021 Post Utme Rsu Economics examination.

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