Post Utme Ksu 2017 Commerce Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Ksu Commerce examination.

Post Utme Ksu 2017 Commerce Objective / Multiple Choice
Question 11 POST_UTME_KSU • 2017 • COMMERCE • objective

In a competitive market, a firm's demand curve is downward sloping. What is the likely effect on the firm's total revenue if the price of the product increases?

Answer Options

A. Total revenue increases
Correct Answer B. Total revenue decreases
C. Total revenue remains constant
D. Total revenue increases at first, then decreases
Correct Answer
B
Correct Option:
Total revenue decreases

About This Question

This is Post Utme Ksu 2017 Commerce Question 11. It is one of the objective questions from the 2017 Post Utme Ksu Commerce examination.

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