Post Utme Unilag 2021 Economics Question 14

Practice objective / multiple choice question 14 from the 2021 Post Utme Unilag Economics examination.

Post Utme Unilag 2021 Economics Objective / Multiple Choice
Question 14 POST_UTME_UNILAG • 2021 • ECONOMICS • objective

A firm is producing a product with a total revenue (TR) of 1000 and a total \cost (TC) of 800. If the firm's profit-maximizing output is 20 units, what is the price elasticity of demand?

Answer Options

A. 1
Correct Answer B. 2
C. 3
D. 4
Correct Answer
B
Correct Option:
2

About This Question

This is Post Utme Unilag 2021 Economics Question 14. It is one of the objective questions from the 2021 Post Utme Unilag Economics examination.

View More Post Utme Unilag 2021 Economics Questions More Post Utme Unilag Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support