Post Utme Lautech 2020 Economics Question 22

Practice objective / multiple choice question 22 from the 2020 Post Utme Lautech Economics examination.

Post Utme Lautech 2020 Economics Objective / Multiple Choice

Question 22 POST_UTME_LAUTECH • 2020 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve that is downward sloping. If the firm increases its price, what will happen to its 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 and quantity demanded

Correct Answer

Correct Option:

Decrease in quantity demanded

About This Question

This is Post Utme Lautech 2020 Economics Question 22. It is one of the objective questions from the 2020 Post Utme Lautech Economics examination.

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