Post Utme Unn 2022 Economics Question 3

Practice objective / multiple choice question 3 from the 2022 Post Utme Unn Economics examination.

Post Utme Unn 2022 Economics Objective / Multiple Choice
Question 3 POST_UTME_UNN • 2022 • ECONOMICS • objective

A firm's total revenue function is given by TR = 100x - 2x^2, where x is the number of units sold. Determine the price elasticity of demand when the quantity sold is 20 units.

Answer Options

Correct Answer A. 0.5
B. 1.0
C. 1.5
D. 2.0
Correct Answer
A
Correct Option:
0.5

About This Question

This is Post Utme Unn 2022 Economics Question 3. It is one of the objective questions from the 2022 Post Utme Unn Economics examination.

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