Post Utme Mountain Top University 2024 Economics Question 16

Practice objective / multiple choice question 16 from the 2024 Post Utme Mountain Top University Economics examination.

Post Utme Mountain Top University 2024 Economics Objective / Multiple Choice
Question 16 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2024 • ECONOMICS • objective

An increase in the price of a commodity leads to a decrease in its demand. If the demand for the commodity is inelastic, what will happen to the total revenue of the producer?

Answer Options

A. Total revenue will increase
Correct Answer B. Total revenue will decrease
C. Total revenue will remain cons\tant
D. Total revenue will increase at a decrea\sing rate
Correct Answer
B
Correct Option:
Total revenue will decrease

About This Question

This is Post Utme Mountain Top University 2024 Economics Question 16. It is one of the objective questions from the 2024 Post Utme Mountain Top University Economics examination.

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