Post Utme Babcock University 2023 Economics Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2023 Economics Objective / Multiple Choice
Question 16 POST_UTME_BABCOCK_UNIVERSITY • 2023 • ECONOMICS • objective

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

Answer Options

A. Total revenue will increase
Correct Answer B. Total revenue will decrease
C. Total revenue will remain unchanged
D. Total revenue will increase initially but then decrease
Correct Answer
B
Correct Option:
Total revenue will decrease

About This Question

This is Post Utme Babcock University 2023 Economics Question 16. It is one of the objective questions from the 2023 Post Utme Babcock University Economics examination.

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