Post Utme Lasu 2023 Commerce Question 34

Practice objective / multiple choice question 34 from the 2023 Post Utme Lasu Commerce examination.

Post Utme Lasu 2023 Commerce Objective / Multiple Choice
Question 34 POST_UTME_LASU • 2023 • COMMERCE • objective

In a perfectly competitive market, the law of diminishing marginal utility implies that the demand curve for a firm's product is

Answer Options

A. inelastic
B. elastic
C. unit elastic
Correct Answer D. perfectly inelastic
Correct Answer
D
Correct Option:
perfectly inelastic

About This Question

This is Post Utme Lasu 2023 Commerce Question 34. It is one of the objective questions from the 2023 Post Utme Lasu Commerce examination.

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