Post Utme Bells University 2019 Commerce Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Bells University Commerce examination.

Post Utme Bells University 2019 Commerce Objective / Multiple Choice
Question 1 POST_UTME_BELLS_UNIVERSITY • 2019 • COMMERCE • objective

In a monopolistically competitive market, a firm's demand curve is downward sloping due to the presence of many close substitutes. However, the firm still experiences a downward-sloping demand curve because of the following reason:

Answer Options

A. The firm's product is a necessity.
B. The firm's product is a luxury good.
Correct Answer C. The firm's product is homogeneous with other firms' products.
D. The firm's product is a complementary good.
Correct Answer
C
Correct Option:
The firm's product is homogeneous with other firms' products.

About This Question

This is Post Utme Bells University 2019 Commerce Question 1. It is one of the objective questions from the 2019 Post Utme Bells University Commerce examination.

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