Post Utme Veritas University 2025 Economics Question 11

Practice objective / multiple choice question 11 from the 2025 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2025 Economics Objective / Multiple Choice
Question 11 POST_UTME_VERITAS_UNIVERSITY • 2025 • ECONOMICS • objective

Determine the price elasticity of demand for a product whose price is reduced from ₦100 to ₦80, and the quantity demanded increases from 100 units to 120 units.

Answer Options

A. Unit elastic
B. Inelastic
Correct Answer C. Elastic
D. Perfectly elastic
Correct Answer
C
Correct Option:
Elastic

About This Question

This is Post Utme Veritas University 2025 Economics Question 11. It is one of the objective questions from the 2025 Post Utme Veritas University Economics examination.

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