Post Utme Joseph Ayo Babalola University 2019 Commerce Question 34

Practice objective / multiple choice question 34 from the 2019 Post Utme Joseph Ayo Babalola University Commerce examination.

Post Utme Joseph Ayo Babalola University 2019 Commerce Objective / Multiple Choice
Question 34 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2019 • COMMERCE • objective

A firm is considering exporting its product to a foreign market. The firm's marginal cost is constant, and the demand for the product is price-inelastic. If the firm wants to maximize its profit, what should it do?

Answer Options

Correct Answer A. Increase the price of the product
B. Decrease the price of the product
C. Increase the production level
D. Decrease the production level
Correct Answer
A
Correct Option:
Increase the price of the product

About This Question

This is Post Utme Joseph Ayo Babalola University 2019 Commerce Question 34. It is one of the objective questions from the 2019 Post Utme Joseph Ayo Babalola University Commerce examination.

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