Post Utme Futo 2020 Commerce Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Futo Commerce examination.

Post Utme Futo 2020 Commerce Objective / Multiple Choice
Question 36 POST_UTME_FUTO • 2020 • 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. elastic
C. unit elastic
Correct Answer D. perfectly inelastic
Correct Answer
D
Correct Option:
perfectly inelastic

About This Question

This is Post Utme Futo 2020 Commerce Question 36. It is one of the objective questions from the 2020 Post Utme Futo Commerce examination.

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