Post Utme Unilorin 2019 Economics Question 24

Practice objective / multiple choice question 24 from the 2019 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2019 Economics Objective / Multiple Choice
Question 24 POST_UTME_UNILORIN • 2019 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the price elasticity of demand is 0.5, find the price at which the quantity demanded is 60 units.

Answer Options

A. ₦50
B. ₦75
Correct Answer C. ₦100
D. ₦125
Correct Answer
C
Correct Option:
₦100

About This Question

This is Post Utme Unilorin 2019 Economics Question 24. It is one of the objective questions from the 2019 Post Utme Unilorin Economics examination.

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