Post Utme Ims U 2017 Economics Question 6

Practice objective / multiple choice question 6 from the 2017 Post Utme Ims U Economics examination.

Post Utme Ims U 2017 Economics Objective / Multiple Choice
Question 6 POST_UTME_IMS_U • 2017 • ECONOMICS • objective

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

Answer Options

A. Total revenue will increase
Correct Answer B. Total revenue will decrease
C. Total revenue will remain unchanged
D. Total revenue will increase in the short run but decrease in the long run
Correct Answer
B
Correct Option:
Total revenue will decrease

About This Question

This is Post Utme Ims U 2017 Economics Question 6. It is one of the objective questions from the 2017 Post Utme Ims U Economics examination.

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