Post Utme Bowen University 2022 Economics Question 25

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

Post Utme Bowen University 2022 Economics Objective / Multiple Choice

Question 25 POST_UTME_BOWEN_UNIVERSITY • 2022 • ECONOMICS • objective

A firm is producing a good with a demand curve that is perfectly inelastic. If the firm increases its price, what will happen to its revenue?

Answer Options

Correct Answer A. The firm's revenue will increase.

B. The firm's revenue will decrease.

C. The firm's revenue will remain the same.

D. The firm's revenue will increase in the short run but decrease in the long run.

Correct Answer

Correct Option:

The firm's revenue will increase.

About This Question

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

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