Post Utme Igbinedion University 2022 Economics Question 12

Practice objective / multiple choice question 12 from the 2022 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2022 Economics Objective / Multiple Choice

Question 12 POST_UTME_IGBINEDION_UNIVERSITY • 2022 • ECONOMICS • objective

A monopolistically competitive firm faces a downward-sloping demand curve. If the firm increases its price, what will happen to its revenue?

Answer Options

A. Revenue will increase

Correct Answer B. Revenue will decrease

C. Revenue will remain unchanged

D. Revenue will increase in the short run but decrease in the long run

Correct Answer

Correct Option:

Revenue will decrease

About This Question

This is Post Utme Igbinedion University 2022 Economics Question 12. It is one of the objective questions from the 2022 Post Utme Igbinedion University Economics examination.

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