Post Utme Lautech 2021 Economics Question 22

Practice objective / multiple choice question 22 from the 2021 Post Utme Lautech Economics examination.

Post Utme Lautech 2021 Economics Objective / Multiple Choice
Question 22 POST_UTME_LAUTECH • 2021 • ECONOMICS • objective

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

Answer Options

Correct Answer A. Revenue will decrease.
B. Revenue will increase.
C. Revenue will remain the same.
D. Revenue will increase, but at a decrea\sing rate.
Correct Answer
A
Correct Option:
Revenue will decrease.

About This Question

This is Post Utme Lautech 2021 Economics Question 22. It is one of the objective questions from the 2021 Post Utme Lautech Economics examination.

View More Post Utme Lautech 2021 Economics Questions More Post Utme Lautech Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support