Post Utme Unn 2021 Economics Question 31

Practice objective / multiple choice question 31 from the 2021 Post Utme Unn Economics examination.

Post Utme Unn 2021 Economics Objective / Multiple Choice
Question 31 POST_UTME_UNN • 2021 • ECONOMICS • objective

Suppose a firm is producing a good with a cons\tant elasticity of demand of -2. If the price of the good increases by 10%, what is the percentage change in the quantity demanded?

Answer Options

Correct Answer A. -20%
B. -10%
C. 0%
D. +10%
Correct Answer
A
Correct Option:
-20%

About This Question

This is Post Utme Unn 2021 Economics Question 31. It is one of the objective questions from the 2021 Post Utme Unn Economics examination.

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