Post Utme Unilorin 2020 Commerce Question 13

Practice objective / multiple choice question 13 from the 2020 Post Utme Unilorin Commerce examination.

Post Utme Unilorin 2020 Commerce Objective / Multiple Choice
Question 13 POST_UTME_UNILORIN • 2020 • COMMERCE • objective

A consumer protection agency has identified a product with the following characteristics: price = ₦500, quantity demanded = 100 units, and elasticity of demand = 0.5. What is the price elasticity of demand?

Answer Options

Correct Answer A. 0.5
B. 1.5
C. 2.5
D. 3.5
Correct Answer
A
Correct Option:
0.5

About This Question

This is Post Utme Unilorin 2020 Commerce Question 13. It is one of the objective questions from the 2020 Post Utme Unilorin Commerce examination.

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