Post Utme Lasu 2025 Economics Question 7

Practice objective / multiple choice question 7 from the 2025 Post Utme Lasu Economics examination.

Post Utme Lasu 2025 Economics Objective / Multiple Choice
Question 7 POST_UTME_LASU • 2025 • ECONOMICS • objective
Post Utme Lasu 2025 Economics Question 7 diagram

A monopolistically competitive firm faces a downward-sloping demand curve due to the presence of close substitutes. Which of the following is a characteristic of the demand curve faced by this firm?

Answer Options

A. The demand curve is perfectly inelastic.
Correct Answer B. The demand curve is downward-sloping.
C. The demand curve is upward-sloping.
D. The demand curve is perfectly elastic.
Correct Answer
B
Correct Option:
The demand curve is downward-sloping.

About This Question

This is Post Utme Lasu 2025 Economics Question 7. It is one of the objective questions from the 2025 Post Utme Lasu Economics examination.

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