Post Utme Wellspring University 2017 Commerce Question 24

Practice objective / multiple choice question 24 from the 2017 Post Utme Wellspring University Commerce examination.

Post Utme Wellspring University 2017 Commerce Objective / Multiple Choice
Question 24 POST_UTME_WELLSPRING_UNIVERSITY • 2017 • COMMERCE • objective

A firm's demand function is given by Q = 100 - 2P. If the price of the good is increased by 20%, what is the resulting change in quantity demanded?

Answer Options

A. -10%
Correct Answer B. -20%
C. -30%
D. -40%
Correct Answer
B
Correct Option:
-20%

About This Question

This is Post Utme Wellspring University 2017 Commerce Question 24. It is one of the objective questions from the 2017 Post Utme Wellspring University Commerce examination.

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