Post Utme Uniosun 2019 Economics Question 19

Practice objective / multiple choice question 19 from the 2019 Post Utme Uniosun Economics examination.

Post Utme Uniosun 2019 Economics Objective / Multiple Choice
Question 19 POST_UTME_UNIOSUN • 2019 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P, where Q is quantity demanded and P is price. If the firm's revenue is ₦1000, what is the price elasticity of demand?

Answer Options

A. -0.5
Correct Answer B. -1
C. -2
D. -5
Correct Answer
B
Correct Option:
-1

About This Question

This is Post Utme Uniosun 2019 Economics Question 19. It is one of the objective questions from the 2019 Post Utme Uniosun 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