Post Utme Uniben 2020 Economics Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Uniben Economics examination.

Post Utme Uniben 2020 Economics Objective / Multiple Choice
Question 36 POST_UTME_UNIBEN • 2020 • ECONOMICS • objective

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

Answer Options

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

About This Question

This is Post Utme Uniben 2020 Economics Question 36. It is one of the objective questions from the 2020 Post Utme Uniben Economics examination.

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