Post Utme Elizade University 2025 Commerce Question 1

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

Post Utme Elizade University 2025 Commerce Objective / Multiple Choice
Question 1 POST_UTME_ELIZADE_UNIVERSITY • 2025 • COMMERCE • objective

In a perfectly competitive market, the law of diminishing marginal utility implies that the demand curve for a firm's product is likely to be

Answer Options

A. Inelastic
B. Unit Elastic
Correct Answer C. Elastic
D. Perfectly Elastic
Correct Answer
C
Correct Option:
Elastic

About This Question

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

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