Post Utme Caleb University 2023 Economics Question 33

Practice objective / multiple choice question 33 from the 2023 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2023 Economics Objective / Multiple Choice
Question 33 POST_UTME_CALEB_UNIVERSITY • 2023 • ECONOMICS • objective

A firm is producing at a point where its marginal revenue (MR) curve intersects its marginal \cost (MC) curve. If the firm's demand curve is perfectly inelastic, what is the implication for the firm's price?

Answer Options

A. The price will increase.
Correct Answer B. The price will decrease.
C. The price will remain cons\tant.
D. The price will become perfectly elastic.
Correct Answer
B
Correct Option:
The price will decrease.

About This Question

This is Post Utme Caleb University 2023 Economics Question 33. It is one of the objective questions from the 2023 Post Utme Caleb University Economics examination.

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