Post Utme Uniosun 2021 Economics Question 19

Practice objective / multiple choice question 19 from the 2021 Post Utme Uniosun Economics examination.

Post Utme Uniosun 2021 Economics Objective / Multiple Choice
Question 19 POST_UTME_UNIOSUN • 2021 • ECONOMICS • objective

A firm's demand curve is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. What is the elasticity of demand at a price of ₦50?

Answer Options

A. The demand is elastic.
Correct Answer B. The demand is inelastic.
C. The demand is unit elastic.
D. The demand is perfectly elastic.
Correct Answer
B
Correct Option:
The demand is inelastic.

About This Question

This is Post Utme Uniosun 2021 Economics Question 19. It is one of the objective questions from the 2021 Post Utme Uniosun Economics examination.

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