Post Utme Rsu 2024 Economics Question 1

Practice objective / multiple choice question 1 from the 2024 Post Utme Rsu Economics examination.

Post Utme Rsu 2024 Economics Objective / Multiple Choice
Question 1 POST_UTME_RSU • 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 value of the cross-price elasticity of demand?

Answer Options

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

About This Question

This is Post Utme Rsu 2024 Economics Question 1. It is one of the objective questions from the 2024 Post Utme Rsu 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