Post Utme Joseph Ayo Babalola University 2024 Economics Question 12

Practice objective / multiple choice question 12 from the 2024 Post Utme Joseph Ayo Babalola University Economics examination.

Post Utme Joseph Ayo Babalola University 2024 Economics Objective / Multiple Choice

Question 12 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2024 • 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 the same

D. Total revenue will increase, then decrease

Correct Answer

Correct Option:

Total revenue will decrease

About This Question

This is Post Utme Joseph Ayo Babalola University 2024 Economics Question 12. It is one of the objective questions from the 2024 Post Utme Joseph Ayo Babalola University Economics examination.

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