Post Utme Veritas University 2018 Economics Question 16

Practice objective / multiple choice question 16 from the 2018 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2018 Economics Objective / Multiple Choice
Question 16 POST_UTME_VERITAS_UNIVERSITY • 2018 • ECONOMICS • objective

The demand for a product is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the price elasticity of demand is 0.5, find the price at which the quantity demanded is 60 units.

Answer Options

A. ₦50
Correct Answer B. ₦75
C. ₦100
D. ₦125
Correct Answer
B
Correct Option:
₦75

About This Question

This is Post Utme Veritas University 2018 Economics Question 16. It is one of the objective questions from the 2018 Post Utme Veritas University Economics examination.

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