Post Utme Summit University 2018 Commerce Question 23

Practice objective / multiple choice question 23 from the 2018 Post Utme Summit University Commerce examination.

Post Utme Summit University 2018 Commerce Objective / Multiple Choice

Question 23 POST_UTME_SUMMIT_UNIVERSITY • 2018 • COMMERCE • objective

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

Answer Options

Correct Answer A. 0.5

B. 1

C. 2

D. 3

Correct Answer

Correct Option:

0.5

About This Question

This is Post Utme Summit University 2018 Commerce Question 23. It is one of the objective questions from the 2018 Post Utme Summit University Commerce examination.

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