Post Utme Bells University 2024 Economics Question 33

Practice objective / multiple choice question 33 from the 2024 Post Utme Bells University Economics examination.

Post Utme Bells University 2024 Economics Objective / Multiple Choice
Question 33 POST_UTME_BELLS_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's demand function is given by Q = 100 - 2P. If the price of the good is increased by 20%, what will be the effect on the firm's output?

Answer Options

A. Output will increase by 20%
Correct Answer B. Output will decrease by 20%
C. Output will remain the same
D. Output will fluctuate
Correct Answer
B
Correct Option:
Output will decrease by 20%

About This Question

This is Post Utme Bells University 2024 Economics Question 33. It is one of the objective questions from the 2024 Post Utme Bells University Economics examination.

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