Post Utme Elizade University 2018 Economics Question 6

Practice objective / multiple choice question 6 from the 2018 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2018 Economics Objective / Multiple Choice

Question 6 POST_UTME_ELIZADE_UNIVERSITY • 2018 • ECONOMICS • objective

An increase in the price of a commodity leads to a decrease in its demand. If the demand for the commodity is elastic, what will happen to the total revenue of the firm?

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 initially but then decrease

Correct Answer

Correct Option:

Total revenue will decrease

About This Question

This is Post Utme Elizade University 2018 Economics Question 6. It is one of the objective questions from the 2018 Post Utme Elizade University Economics examination.

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