Post Utme Unilorin 2023 Economics Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2023 Economics Objective / Multiple Choice
Question 16 POST_UTME_UNILORIN • 2023 • ECONOMICS • objective

The elasticity of demand for a product is -2. If the price of the product increases by 10%, what is the percentage change in the quantity demanded?

Answer Options

Correct Answer A. 20%
B. 15%
C. 10%
D. 5%
Correct Answer
A
Correct Option:
20%

About This Question

This is Post Utme Unilorin 2023 Economics Question 16. It is one of the objective questions from the 2023 Post Utme Unilorin Economics examination.

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