Post Utme Madonna University 2020 Economics Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Madonna University Economics examination.

Post Utme Madonna University 2020 Economics Objective / Multiple Choice
Question 1 POST_UTME_MADONNA_UNIVERSITY • 2020 • ECONOMICS • objective

A country with a perfectly competitive market structure has a demand curve that is downward sloping. What is the implication of this for the firm's revenue?

Answer Options

A. The firm's revenue will increase as the price of the good increases.
Correct Answer B. The firm's revenue will decrease as the price of the good increases.
C. The firm's revenue will remain cons\tant as the price of the good increases.
D. The firm's revenue will increase as the price of the good decreases.
Correct Answer
B
Correct Option:
The firm's revenue will decrease as the price of the good increases.

About This Question

This is Post Utme Madonna University 2020 Economics Question 1. It is one of the objective questions from the 2020 Post Utme Madonna University Economics examination.

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