Post Utme Futa 2022 Economics Question 24

Practice objective / multiple choice question 24 from the 2022 Post Utme Futa Economics examination.

Post Utme Futa 2022 Economics Objective / Multiple Choice
Question 24 POST_UTME_FUTA • 2022 • 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
B
Correct Option:
Total revenue will decrease

About This Question

This is Post Utme Futa 2022 Economics Question 24. It is one of the objective questions from the 2022 Post Utme Futa Economics examination.

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