Post Utme Summit University 2021 Economics Question 23

Practice objective / multiple choice question 23 from the 2021 Post Utme Summit University Economics examination.

Post Utme Summit University 2021 Economics Objective / Multiple Choice
Question 23 POST_UTME_SUMMIT_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's elasticity of demand is given by E = -2P/Q. If the price is $10 and the quantity demanded is 20, what is the elasticity of demand?

Answer Options

Correct Answer A. 0.2
B. 0.5
C. 1.0
D. 2.0
Correct Answer
A
Correct Option:
0.2

About This Question

This is Post Utme Summit University 2021 Economics Question 23. It is one of the objective questions from the 2021 Post Utme Summit University Economics examination.

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