Utme 2018 Economics Question 24

Practice objective / multiple choice question 24 from the 2018 Utme Economics examination. This question covers Economics .

Utme 2018 Economics Objective / Multiple Choice 3 Difficulty
Topic: Economics
Question 24 UTME • 2018 • ECONOMICS • objective

If the price of a ballpoint pen falls from N1.00 to N0.60 and the quantity demanded increases from 200 to 300, the point elasticity of demand is equal to

Answer Options

A. 0.50
B. 0.40
Correct Answer C. 1.25
D. 0.80
Correct Answer
C
Correct Option:
1.25

About This Question

This is Utme 2018 Economics Question 24. It is one of the objective questions from the 2018 Utme Economics examination.

The question covers Economics .

Difficulty level: 3 .

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