Post Utme Nile University 2022 Economics Question 13

Practice objective / multiple choice question 13 from the 2022 Post Utme Nile University Economics examination.

Post Utme Nile University 2022 Economics Objective / Multiple Choice
Question 13 POST_UTME_NILE_UNIVERSITY • 2022 • ECONOMICS • objective

A firm is considering a price increase due to an increase in production \costs. If the demand for the firm's product is inelastic, what will be the effect on the firm's revenue?

Answer Options

A. The revenue will decrease
Correct Answer B. The revenue will increase
C. The revenue will remain unchanged
D. The revenue will increase by 10%
Correct Answer
B
Correct Option:
The revenue will increase

About This Question

This is Post Utme Nile University 2022 Economics Question 13. It is one of the objective questions from the 2022 Post Utme Nile University Economics examination.

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