Post Utme Summit University 2017 Economics Question 18

Practice objective / multiple choice question 18 from the 2017 Post Utme Summit University Economics examination.

Post Utme Summit University 2017 Economics Objective / Multiple Choice
Question 18 POST_UTME_SUMMIT_UNIVERSITY • 2017 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P. If the firm's current price is ₦20, what is the elasticity of demand?

Answer Options

Correct Answer A. 0.5
B. 1
C. 2
D. 3
Correct Answer
A
Correct Option:
0.5

About This Question

This is Post Utme Summit University 2017 Economics Question 18. It is one of the objective questions from the 2017 Post Utme Summit University Economics examination.

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