Post Utme Lasu 2024 Economics Question 27

Practice objective / multiple choice question 27 from the 2024 Post Utme Lasu Economics examination.

Post Utme Lasu 2024 Economics Objective / Multiple Choice
Question 27 POST_UTME_LASU • 2024 • ECONOMICS • objective

A monopolistically competitive firm faces a downward-sloping demand curve. If the firm increases its price, what will happen to its quantity supplied?

Answer Options

A. The quantity supplied will increase.
Correct Answer B. The quantity supplied will decrease.
C. The quantity supplied will remain unchanged.
D. The quantity supplied will increase in the short run but decrease in the long run.
Correct Answer
B
Correct Option:
The quantity supplied will decrease.

About This Question

This is Post Utme Lasu 2024 Economics Question 27. It is one of the objective questions from the 2024 Post Utme Lasu Economics examination.

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