Post Utme Babcock University 2022 Economics Question 25

Practice objective / multiple choice question 25 from the 2022 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2022 Economics Objective / Multiple Choice

Question 25 POST_UTME_BABCOCK_UNIVERSITY • 2022 • ECONOMICS • objective

A firm is considering two different pricing strategies for a commodity. Strategy A involves charging a price of ₦100 per unit, while Strategy B involves charging a price of ₦120 per unit. If the demand for the commodity is elastic, which strategy will result in a higher revenue?

Answer Options

A. Strategy A

Correct Answer B. Strategy B

C. Both strategies will result in the same revenue

D. The revenue from both strategies is uncertain

Correct Answer

Correct Option:

Strategy B

About This Question

This is Post Utme Babcock University 2022 Economics Question 25. It is one of the objective questions from the 2022 Post Utme Babcock University Economics examination.

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