Post Utme Lead City University 2024 Economics Question 36

Practice objective / multiple choice question 36 from the 2024 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2024 Economics Objective / Multiple Choice
Question 36 POST_UTME_LEAD_CITY_UNIVERSITY • 2024 • ECONOMICS • objective

Consider a pure monopoly market with a downward-sloping demand curve. If the monopolist increases the price of the product, what happens to the quantity demanded?

Answer Options

A. Quantity demanded increases
Correct Answer B. Quantity demanded decreases
C. Quantity demanded remains unchanged
D. Quantity demanded becomes infinite
Correct Answer
B
Correct Option:
Quantity demanded decreases

About This Question

This is Post Utme Lead City University 2024 Economics Question 36. It is one of the objective questions from the 2024 Post Utme Lead City University Economics examination.

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