Post Utme Igbinedion University 2019 Commerce Question 21

Practice objective / multiple choice question 21 from the 2019 Post Utme Igbinedion University Commerce examination.

Post Utme Igbinedion University 2019 Commerce Objective / Multiple Choice
Question 21 POST_UTME_IGBINEDION_UNIVERSITY • 2019 • COMMERCE • objective

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

Answer Options

A. inelastic
B. elastic
C. unitary
Correct Answer D. perfectly inelastic
Correct Answer
D
Correct Option:
perfectly inelastic

About This Question

This is Post Utme Igbinedion University 2019 Commerce Question 21. It is one of the objective questions from the 2019 Post Utme Igbinedion University Commerce examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support