Post Utme Uniosun 2018 Economics Question 17

Practice objective / multiple choice question 17 from the 2018 Post Utme Uniosun Economics examination.

Post Utme Uniosun 2018 Economics Objective / Multiple Choice
Question 17 POST_UTME_UNIOSUN • 2018 • ECONOMICS • objective

A firm is producing a good with a cons\tant elasticity of demand. The demand function is given by Q = 100 - 2P. If the firm increases the price of the good 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 Uniosun 2018 Economics Question 17. It is one of the objective questions from the 2018 Post Utme Uniosun Economics examination.

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