Post Utme Summit University 2017 Economics Question 36
Practice objective / multiple choice question 36 from the 2017 Post Utme Summit University Economics examination.
Suppose the demand function for a commodity is given by Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the price elasticity of demand is cons\tant and equal to -2, find the change in price that will lead to a 20% increase in the quantity demanded.
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About This Question
This is Post Utme Summit University 2017 Economics Question 36. It is one of the objective questions from the 2017 Post Utme Summit University Economics examination.
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