Post Utme Ui 2022 Economics Question 9

Practice objective / multiple choice question 9 from the 2022 Post Utme Ui Economics examination.

Post Utme Ui 2022 Economics Objective / Multiple Choice
Question 9 POST_UTME_UI • 2022 • ECONOMICS • objective

The elasticity of demand for a particular good is 0.5. If the price of the good increases by 10%, what is the likely percentage change in the quantity demanded?

Answer Options

Correct Answer A. -5%
B. -10%
C. -20%
D. -50%
Correct Answer
A
Correct Option:
-5%

About This Question

This is Post Utme Ui 2022 Economics Question 9. It is one of the objective questions from the 2022 Post Utme Ui Economics examination.

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