Post Utme Unn 2017 Economics Question 21
Practice objective / multiple choice question 21 from the 2017 Post Utme Unn Economics examination.
The elasticity of demand for a commodity is given by the formula \( epsilon = \frac{Delta Q}{Delta P} \times \frac{P}{Q} \). If the price of the commodity increases by 10% and the quantity demanded decreases by 15%, calculate the elasticity of demand.
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About This Question
This is Post Utme Unn 2017 Economics Question 21. It is one of the objective questions from the 2017 Post Utme Unn Economics examination.
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