Post Utme Summit University 2019 Economics Question 18

Practice objective / multiple choice question 18 from the 2019 Post Utme Summit University Economics examination.

Post Utme Summit University 2019 Economics Objective / Multiple Choice

Question 18 POST_UTME_SUMMIT_UNIVERSITY • 2019 • ECONOMICS • objective

A monopolist faces a demand curve with a price elasticity of 0.8. If the monopolist increases the price of its product by 10%, what is the percentage change in the quantity demanded?

Answer Options

Correct Answer A. -8%

B. -10%

C. -12%

D. -15%

Correct Answer

Correct Option:

-8%

About This Question

This is Post Utme Summit University 2019 Economics Question 18. It is one of the objective questions from the 2019 Post Utme Summit University Economics examination.

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