Post Utme Covenant University 2023 Economics Question 2

Practice objective / multiple choice question 2 from the 2023 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2023 Economics Objective / Multiple Choice

Question 2 POST_UTME_COVENANT_UNIVERSITY • 2023 • ECONOMICS • objective

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

Answer Options

A. Revenue will increase

Correct Answer B. Revenue will decrease

C. Revenue will remain unchanged

D. Revenue will increase in the short run but decrease in the long run

Correct Answer

Correct Option:

Revenue will decrease

About This Question

This is Post Utme Covenant University 2023 Economics Question 2. It is one of the objective questions from the 2023 Post Utme Covenant University Economics examination.

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