Post Utme Elizade University 2019 Economics Question 24

Practice objective / multiple choice question 24 from the 2019 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2019 Economics Objective / Multiple Choice

Question 24 POST_UTME_ELIZADE_UNIVERSITY • 2019 • ECONOMICS • objective

An increase in the price of a good leads to a decrease in the quantity demanded. If the demand curve is inelastic, 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 at a decrea\sing rate

Correct Answer

Correct Option:

Total revenue will decrease

About This Question

This is Post Utme Elizade University 2019 Economics Question 24. It is one of the objective questions from the 2019 Post Utme Elizade University Economics examination.

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