Post Utme Unn 2017 Economics Question 3

Practice objective / multiple choice question 3 from the 2017 Post Utme Unn Economics examination.

Post Utme Unn 2017 Economics Objective / Multiple Choice
Question 3 POST_UTME_UNN • 2017 • ECONOMICS • objective

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

Answer Options

Correct Answer A. The price elasticity of demand is 0.5.
B. The price elasticity of demand is 1.
C. The price elasticity of demand is 2.
D. The price elasticity of demand is 5.
Correct Answer
A
Correct Option:
The price elasticity of demand is 0.5.

About This Question

This is Post Utme Unn 2017 Economics Question 3. It is one of the objective questions from the 2017 Post Utme Unn Economics examination.

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