Post Utme Veritas University 2020 Economics Question 20

Practice objective / multiple choice question 20 from the 2020 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2020 Economics Objective / Multiple Choice
Question 20 POST_UTME_VERITAS_UNIVERSITY • 2020 • ECONOMICS • objective

A firm's demand for a product is given by the equation Qd = 100 - 2P and the supply is given by Qs = 2P - 10. If the market is in equilibrium, find the elasticity of demand.

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 Veritas University 2020 Economics Question 20. It is one of the objective questions from the 2020 Post Utme Veritas University Economics examination.

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