Post Utme Mountain Top University 2024 Economics Question 36

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

Post Utme Mountain Top University 2024 Economics Objective / Multiple Choice
Question 36 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2024 • ECONOMICS • objective

An increase in the price of a good leads to a decrease in the quantity demanded. If the demand curve is inelastic, what happens to the total revenue of the firm?

Answer Options

A. Total revenue increases
Correct Answer B. Total revenue decreases
C. Total revenue remains the same
D. Total revenue becomes negative
Correct Answer
B
Correct Option:
Total revenue decreases

About This Question

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

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