Post Utme Rsu 2024 Economics Question 5

Practice objective / multiple choice question 5 from the 2024 Post Utme Rsu Economics examination.

Post Utme Rsu 2024 Economics Objective / Multiple Choice
Question 5 POST_UTME_RSU • 2024 • ECONOMICS • objective

A consumer is choo\sing between two goods, A and B. The price of good A is ₦200 and the price of good B is ₦300. If the consumer's income elasticity of demand for good A is 0.5, what is the value of the cross-price elasticity of demand for good B?

Answer Options

A. 0.2
Correct Answer B. 0.5
C. 1
D. 2
Correct Answer
B
Correct Option:
0.5

About This Question

This is Post Utme Rsu 2024 Economics Question 5. It is one of the objective questions from the 2024 Post Utme Rsu Economics examination.

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