Post Utme Igbinedion University 2017 Economics Question 2

Practice objective / multiple choice question 2 from the 2017 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2017 Economics Objective / Multiple Choice

Question 2 POST_UTME_IGBINEDION_UNIVERSITY • 2017 • ECONOMICS • objective

A firm faces a downward-sloping demand curve for its product. If the firm increases its price by 15%, what will be the effect on its total revenue?

Answer Options

A. Total revenue will increase by 15%.

Correct Answer B. Total revenue will decrease by 15%.

C. Total revenue will remain unchanged.

D. Total revenue will increase by 20%.

Correct Answer

Correct Option:

Total revenue will decrease by 15%.

About This Question

This is Post Utme Igbinedion University 2017 Economics Question 2. It is one of the objective questions from the 2017 Post Utme Igbinedion University Economics examination.

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