Post Utme Igbinedion University 2023 Economics Question 30

Practice objective / multiple choice question 30 from the 2023 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2023 Economics Objective / Multiple Choice
Question 30 POST_UTME_IGBINEDION_UNIVERSITY • 2023 • ECONOMICS • objective

A firm is considering a policy to reduce its production \costs by 15%. If the firm's current production \costs are ₦500,000 and the demand for its products is inelastic, what is the likely effect on the firm's revenue?

Answer Options

Correct Answer A. Increase in revenue
B. Decrease in revenue
C. No change in revenue
D. Uncertain effect on revenue
Correct Answer
A
Correct Option:
Increase in revenue

About This Question

This is Post Utme Igbinedion University 2023 Economics Question 30. It is one of the objective questions from the 2023 Post Utme Igbinedion University Economics examination.

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