Post Utme Wellspring University 2018 Economics Question 20

Practice objective / multiple choice question 20 from the 2018 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2018 Economics Objective / Multiple Choice
Question 20 POST_UTME_WELLSPRING_UNIVERSITY • 2018 • ECONOMICS • objective

The government of Nigeria is considering a policy to increase agricultural production. If the policy is expected to increase the supply of agricultural products by 10%, calculate the effect on the price of agricultural products.

Answer Options

A. \frac{\Delta P}{P} = -0.05
Correct Answer B. \frac{\Delta P}{P} = -0.1
C. \frac{\Delta P}{P} = -0.15
D. \frac{\Delta P}{P} = -0.2
Correct Answer
B
Correct Option:
\frac{\Delta P}{P} = -0.1

About This Question

This is Post Utme Wellspring University 2018 Economics Question 20. It is one of the objective questions from the 2018 Post Utme Wellspring University Economics examination.

View More Post Utme Wellspring University 2018 Economics Questions More Post Utme Wellspring University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support