Post Utme Wellspring University 2020 Commerce Question 9

Practice objective / multiple choice question 9 from the 2020 Post Utme Wellspring University Commerce examination.

Post Utme Wellspring University 2020 Commerce Objective / Multiple Choice
Question 9 POST_UTME_WELLSPRING_UNIVERSITY • 2020 • COMMERCE • objective

A firm's demand function is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm increases its price from ₦50 to ₦75, what is the percentage change in quantity demanded?

Answer Options

A. -20%
B. -30%
Correct Answer C. -40%
D. -50%
Correct Answer
C
Correct Option:
-40%

About This Question

This is Post Utme Wellspring University 2020 Commerce Question 9. It is one of the objective questions from the 2020 Post Utme Wellspring University Commerce examination.

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