Post Utme Skyline University 2024 Economics Question 27

Practice objective / multiple choice question 27 from the 2024 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2024 Economics Objective / Multiple Choice
Question 27 POST_UTME_SKYLINE_UNIVERSITY • 2024 • ECONOMICS • objective

A country's import demand function is given by M = 100 - 2Y + 3P. If the country's income is ₦100,000 and the price of imports is ₦20, what is the elasticity of demand?

Answer Options

A. 0.5
B. 1
Correct Answer C. 1.5
D. 2
Correct Answer
C
Correct Option:
1.5

About This Question

This is Post Utme Skyline University 2024 Economics Question 27. It is one of the objective questions from the 2024 Post Utme Skyline University Economics examination.

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