Post Utme Summit University 2018 Economics Question 21

Practice objective / multiple choice question 21 from the 2018 Post Utme Summit University Economics examination.

Post Utme Summit University 2018 Economics Objective / Multiple Choice
Question 21 POST_UTME_SUMMIT_UNIVERSITY • 2018 • ECONOMICS • objective

A monopolist faces a demand curve given by Q = 100 - 2P. The inverse demand function is Q = 2P + 50. What is the price elasticity of demand at a price of ₦100?

Answer Options

Correct Answer A. 0.5
B. 1.0
C. 2.0
D. -1.0
Correct Answer
A
Correct Option:
0.5

About This Question

This is Post Utme Summit University 2018 Economics Question 21. It is one of the objective questions from the 2018 Post Utme Summit University Economics examination.

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