Post Utme Wellspring University 2024 Economics Question 8

Practice objective / multiple choice question 8 from the 2024 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2024 Economics Objective / Multiple Choice
Question 8 POST_UTME_WELLSPRING_UNIVERSITY • 2024 • ECONOMICS • objective

A firm is producing a product with a total revenue of ₦120,000 and a total \cost of ₦80,000. If the firm's profit-maximizing output is 100 units, find the price elasticity of demand.

Answer Options

Correct Answer A. 0.5
B. 1.0
C. 1.5
D. 2.0
Correct Answer
A
Correct Option:
0.5

About This Question

This is Post Utme Wellspring University 2024 Economics Question 8. It is one of the objective questions from the 2024 Post Utme Wellspring University Economics examination.

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