Post Utme Lasu 2021 Economics Question 22

Practice objective / multiple choice question 22 from the 2021 Post Utme Lasu Economics examination.

Post Utme Lasu 2021 Economics Objective / Multiple Choice
Question 22 POST_UTME_LASU • 2021 • ECONOMICS • objective

A monopolistically competitive firm is facing a decrease in demand for its product. The firm's marginal revenue (MR) and marginal \cost (MC) curves are given by the following equations:

Answer Options

A. The firm will increase its price and reduce its output.
Correct Answer B. The firm will decrease its price and increase its output.
C. The firm will keep its price and output unchanged.
D. The firm will increase its price and increase its output.
Correct Answer
B
Correct Option:
The firm will decrease its price and increase its output.

About This Question

This is Post Utme Lasu 2021 Economics Question 22. It is one of the objective questions from the 2021 Post Utme Lasu Economics examination.

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