Post Utme Uniosun 2025 Economics Question 8

Practice objective / multiple choice question 8 from the 2025 Post Utme Uniosun Economics examination.

Post Utme Uniosun 2025 Economics Objective / Multiple Choice
Question 8 POST_UTME_UNIOSUN • 2025 • ECONOMICS • objective

A firm's demand curve is given by Q = 100 - 2P. If the firm's marginal revenue (MR) curve is given by MR = 100 - 2Q, what is the firm's elasticity of demand at a price of P = 20?

Answer Options

A. The elasticity of demand is unit elastic.
B. The elasticity of demand is inelastic.
Correct Answer C. The elasticity of demand is elastic.
D. The elasticity of demand is not defined.
Correct Answer
C
Correct Option:
The elasticity of demand is elastic.

About This Question

This is Post Utme Uniosun 2025 Economics Question 8. It is one of the objective questions from the 2025 Post Utme Uniosun Economics examination.

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