Post Utme Unilag 2017 Economics Question 36

Practice objective / multiple choice question 36 from the 2017 Post Utme Unilag Economics examination.

Post Utme Unilag 2017 Economics Objective / Multiple Choice
Question 36 POST_UTME_UNILAG • 2017 • ECONOMICS • objective

Calculate the value of the elasticity of demand for a product whose price elasticity of demand is 0.8 and the price of the product increases by 15%.

Answer Options

Correct Answer A. 0.6
B. 0.8
C. 1.2
D. 1.5
Correct Answer
A
Correct Option:
0.6

About This Question

This is Post Utme Unilag 2017 Economics Question 36. It is one of the objective questions from the 2017 Post Utme Unilag Economics examination.

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