Post Utme Wellspring University 2021 Economics Question 24

Practice objective / multiple choice question 24 from the 2021 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2021 Economics Objective / Multiple Choice
Question 24 POST_UTME_WELLSPRING_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's revenue function is given by R = 100P - 0.1P^2. If the firm's current price is P = ₦50, calculate the marginal revenue (MR) and elasticity of demand.

Answer Options

Correct Answer A. MR = ₦100, elasticity of demand = 0.5
B. MR = ₦50, elasticity of demand = 1
C. MR = ₦25, elasticity of demand = 2
D. MR = ₦0, elasticity of demand = 0
Correct Answer
A
Correct Option:
MR = ₦100, elasticity of demand = 0.5

About This Question

This is Post Utme Wellspring University 2021 Economics Question 24. It is one of the objective questions from the 2021 Post Utme Wellspring University Economics examination.

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