Post Utme Greenfield University 2024 Economics Question 11

Practice objective / multiple choice question 11 from the 2024 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2024 Economics Objective / Multiple Choice
Question 11 POST_UTME_GREENFIELD_UNIVERSITY • 2024 • ECONOMICS • objective

A firm operating in a perfectly competitive market is considering a price increase. If the demand curve is inelastic, what will be the effect on the firm's revenue?

Answer Options

A. Revenue will increase
B. Revenue will decrease
Correct Answer C. Revenue will remain unchanged
D. The effect on revenue is uncertain
Correct Answer
C
Correct Option:
Revenue will remain unchanged

About This Question

This is Post Utme Greenfield University 2024 Economics Question 11. It is one of the objective questions from the 2024 Post Utme Greenfield University Economics examination.

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