Post Utme Lead City University 2021 Economics Question 33

Practice objective / multiple choice question 33 from the 2021 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2021 Economics Objective / Multiple Choice

Question 33 POST_UTME_LEAD_CITY_UNIVERSITY • 2021 • ECONOMICS • objective

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

Answer Options

A. Quantity demanded will increase

Correct Answer B. Quantity demanded will decrease

C. Quantity demanded will remain unchanged

D. Quantity demanded will increase, then decrease

Correct Answer

Correct Option:

Quantity demanded will decrease

About This Question

This is Post Utme Lead City University 2021 Economics Question 33. It is one of the objective questions from the 2021 Post Utme Lead City University Economics examination.

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