Post Utme Abu 2022 Economics Question 7

Practice objective / multiple choice question 7 from the 2022 Post Utme Abu Economics examination.

Post Utme Abu 2022 Economics Objective / Multiple Choice
Question 7 POST_UTME_ABU • 2022 • ECONOMICS • objective

A monopolistically competitive firm faces a downward-sloping demand curve. If the firm increases its price, what will happen to its quantity demanded?

Answer Options

A. Quantity demanded will increase
Correct Answer B. Quantity demanded will decrease
C. Quantity demanded will remain unchanged
D. Quantity demanded will become infinite
Correct Answer
B
Correct Option:
Quantity demanded will decrease

About This Question

This is Post Utme Abu 2022 Economics Question 7. It is one of the objective questions from the 2022 Post Utme Abu Economics examination.

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