Post Utme Coal City University 2025 Commerce Question 1

Practice objective / multiple choice question 1 from the 2025 Post Utme Coal City University Commerce examination.

Post Utme Coal City University 2025 Commerce Objective / Multiple Choice
Question 1 POST_UTME_COAL_CITY_UNIVERSITY • 2025 • COMMERCE • objective

In a monopolistically competitive market, a firm's demand curve is downward sloping due to the presence of a few 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 homogeneous good.
Correct Answer B. The firm's product is a differentiated good.
C. The firm's product is a complementary good.
D. The firm's product is a substitute good.
Correct Answer
B
Correct Option:
The firm's product is a differentiated good.

About This Question

This is Post Utme Coal City University 2025 Commerce Question 1. It is one of the objective questions from the 2025 Post Utme Coal City University Commerce examination.

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