Post Utme Unilag 2021 Economics Question 21

Practice objective / multiple choice question 21 from the 2021 Post Utme Unilag Economics examination.

Post Utme Unilag 2021 Economics Objective / Multiple Choice
Question 21 POST_UTME_UNILAG • 2021 • 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 Unilag 2021 Economics Question 21. It is one of the objective questions from the 2021 Post Utme Unilag Economics examination.

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