Utme 2018 Economics Question 25

Practice objective / multiple choice question 25 from the 2018 Utme Economics examination. This question covers Economics .

Utme 2018 Economics Objective / Multiple Choice 3 Difficulty
Topic: Economics
Question 25 UTME • 2018 • ECONOMICS • objective

If the price elasticity of demand for a good is 0.43, an increase in the price of the good will result in

Answer Options

A. A decrease in profit by 43%
B. An increase in profit by 43%
C. A net loss
Correct Answer D. A net gain
Correct Answer
D
Correct Option:
A net gain

About This Question

This is Utme 2018 Economics Question 25. It is one of the objective questions from the 2018 Utme Economics examination.

The question covers Economics .

Difficulty level: 3 .

View More Utme 2018 Economics Questions More Utme 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