Post Utme Madonna University 2025 Economics Question 34

Practice objective / multiple choice question 34 from the 2025 Post Utme Madonna University Economics examination.

Post Utme Madonna University 2025 Economics Objective / Multiple Choice
Question 34 POST_UTME_MADONNA_UNIVERSITY • 2025 • ECONOMICS • objective

A firm is facing a downward-sloping demand curve for its product. If the firm increases the price of the product by 10%, what would be the effect on the quantity demanded of the product?

Answer Options

A. The quantity demanded would increase by 10%
Correct Answer B. The quantity demanded would decrease by 10%
C. The quantity demanded would remain unchanged
D. The quantity demanded would increase by 20%
Correct Answer
B
Correct Option:
The quantity demanded would decrease by 10%

About This Question

This is Post Utme Madonna University 2025 Economics Question 34. It is one of the objective questions from the 2025 Post Utme Madonna University Economics examination.

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