Post Utme Ui 2020 Economics Question 34

Practice objective / multiple choice question 34 from the 2020 Post Utme Ui Economics examination.

Post Utme Ui 2020 Economics Objective / Multiple Choice
Question 34 POST_UTME_UI • 2020 • ECONOMICS • objective

A monopolist is facing a demand curve with a price elasticity of -2. If the firm increases price by 10%, what is the percentage change in quantity demanded?

Answer Options

A. 5%
B. 10%
C. 15%
Correct Answer D. 20%
Correct Answer
D
Correct Option:
20%

About This Question

This is Post Utme Ui 2020 Economics Question 34. It is one of the objective questions from the 2020 Post Utme Ui Economics examination.

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