Post Utme Mountain Top University 2022 Commerce Question 29

Practice objective / multiple choice question 29 from the 2022 Post Utme Mountain Top University Commerce examination.

Post Utme Mountain Top University 2022 Commerce Objective / Multiple Choice
Question 29 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2022 • COMMERCE • objective

In a monopolistically competitive market, a firm's demand curve is downward sloping due to the presence of many close substitutes. However, the firm still experiences a downward-sloping demand curve because of the following reason:

Answer Options

A. The firm's product is a homogeneous good.
Correct Answer B. The firm's product is a differentiated good.
C. The firm's product is a complementary good.
D. The firm's product is a substitute good.
Correct Answer
B
Correct Option:
The firm's product is a differentiated good.

About This Question

This is Post Utme Mountain Top University 2022 Commerce Question 29. It is one of the objective questions from the 2022 Post Utme Mountain Top University Commerce examination.

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