Post Utme Lautech 2018 Economics Question 37

Practice objective / multiple choice question 37 from the 2018 Post Utme Lautech Economics examination.

Post Utme Lautech 2018 Economics Objective / Multiple Choice
Question 37 POST_UTME_LAUTECH • 2018 • ECONOMICS • objective

A monopolist faces a demand curve that is downward sloping. What is the effect of an increase in the price of the product on the quantity demanded?

Answer Options

A. Increase in quantity demanded
Correct Answer B. Decrease in quantity demanded
C. No change in quantity demanded
D. Increase in price
Correct Answer
B
Correct Option:
Decrease in quantity demanded

About This Question

This is Post Utme Lautech 2018 Economics Question 37. It is one of the objective questions from the 2018 Post Utme Lautech Economics examination.

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