Post Utme Veritas University 2022 Economics Question 10

Practice objective / multiple choice question 10 from the 2022 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2022 Economics Objective / Multiple Choice
Question 10 POST_UTME_VERITAS_UNIVERSITY • 2022 • ECONOMICS • objective

A firm's demand curve is given by \( Q = 100 - 2P \) and the firm's marginal revenue curve is given by \( MR = 100 - 2Q \). What is the firm's elasticity of demand at a price of \( P = 20 \)?

Answer Options

A. \( E_d = 0.5 \)
B. \( E_d = 1 \)
Correct Answer C. \( E_d = 2 \)
D. \( E_d = 4 \)
Correct Answer
C
Correct Option:
\( E_d = 2 \)

About This Question

This is Post Utme Veritas University 2022 Economics Question 10. It is one of the objective questions from the 2022 Post Utme Veritas University Economics examination.

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