Post Utme Aaua 2017 Economics Question 9

Practice objective / multiple choice question 9 from the 2017 Post Utme Aaua Economics examination.

Post Utme Aaua 2017 Economics Objective / Multiple Choice
Question 9 POST_UTME_AAUA • 2017 • ECONOMICS • objective

A firm is facing a downward-sloping demand curve for its product. The firm is currently producing at a level where the price of the good is ₦100. If the firm decreases its production by 10%, what will happen to the price of the good?

Answer Options

Correct Answer A. The price will increase by 10%.
B. The price will decrease by 10%.
C. The price will remain the same.
D. The price will increase by more than 10%.
Correct Answer
A
Correct Option:
The price will increase by 10%.

About This Question

This is Post Utme Aaua 2017 Economics Question 9. It is one of the objective questions from the 2017 Post Utme Aaua Economics examination.

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