Post Utme Unn 2017 Economics Question 16

Practice objective / multiple choice question 16 from the 2017 Post Utme Unn Economics examination.

Post Utme Unn 2017 Economics Objective / Multiple Choice
Question 16 POST_UTME_UNN • 2017 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve with a cons\tant elasticity of -2. If the firm increases its price by 10%, what is the percentage change in quantity demanded?

Answer Options

Correct Answer A. 5%
B. 10%
C. 20%
D. 30%
Correct Answer
A
Correct Option:
5%

About This Question

This is Post Utme Unn 2017 Economics Question 16. It is one of the objective questions from the 2017 Post Utme Unn Economics examination.

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