Post Utme Skyline University 2021 Economics Question 22

Practice objective / multiple choice question 22 from the 2021 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2021 Economics Objective / Multiple Choice
Question 22 POST_UTME_SKYLINE_UNIVERSITY • 2021 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve with elasticity of -2. If the firm increases its price by 10%, what is the percentage change in quantity demanded?

Answer Options

Correct Answer A. -20%
B. -10%
C. -5%
D. -15%
Correct Answer
A
Correct Option:
-20%

About This Question

This is Post Utme Skyline University 2021 Economics Question 22. It is one of the objective questions from the 2021 Post Utme Skyline University Economics examination.

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