Post Utme Ksu 2021 Economics Question 2

Practice objective / multiple choice question 2 from the 2021 Post Utme Ksu Economics examination.

Post Utme Ksu 2021 Economics Objective / Multiple Choice
Question 2 POST_UTME_KSU • 2021 • ECONOMICS • objective

A monopolistically competitive firm is facing a decrease in demand for its product. The firm is considering two options: (1) reduce the price of its product, or (2) increase the quality of its product. Which of the following is a potential consequence of option (1)?

Answer Options

A. Increased revenue
Correct Answer B. Decreased revenue
C. Increased market share
D. Decreased market share
Correct Answer
B
Correct Option:
Decreased revenue

About This Question

This is Post Utme Ksu 2021 Economics Question 2. It is one of the objective questions from the 2021 Post Utme Ksu Economics examination.

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