Post Utme Lautech 2020 Economics Question 24

Practice objective / multiple choice question 24 from the 2020 Post Utme Lautech Economics examination.

Post Utme Lautech 2020 Economics Objective / Multiple Choice
Question 24 POST_UTME_LAUTECH • 2020 • ECONOMICS • objective

A firm is producing a good with a cons\tant elasticity of demand. If the firm increases its price, what will happen to its total revenue?

Answer Options

A. Increase in total revenue
Correct Answer B. Decrease in total revenue
C. No change in total revenue
D. Increase in price and total revenue
Correct Answer
B
Correct Option:
Decrease in total revenue

About This Question

This is Post Utme Lautech 2020 Economics Question 24. It is one of the objective questions from the 2020 Post Utme Lautech Economics examination.

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