Post Utme Covenant University 2021 Economics Question 16

Practice objective / multiple choice question 16 from the 2021 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2021 Economics Objective / Multiple Choice

Question 16 POST_UTME_COVENANT_UNIVERSITY • 2021 • ECONOMICS • objective

A monopolistically competitive firm faces a downward-sloping demand curve. If the firm increases its price, what will happen to its total revenue?

Answer Options

A. Total revenue will increase

Correct Answer B. Total revenue will decrease

C. Total revenue will remain the same

D. Total revenue will increase at first, then decrease

Correct Answer

Correct Option:

Total revenue will decrease

About This Question

This is Post Utme Covenant University 2021 Economics Question 16. It is one of the objective questions from the 2021 Post Utme Covenant University Economics examination.

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