Post Utme Noun 2023 Commerce Question 14

Practice objective / multiple choice question 14 from the 2023 Post Utme Noun Commerce examination.

Post Utme Noun 2023 Commerce Objective / Multiple Choice
Question 14 POST_UTME_NOUN • 2023 • COMMERCE • objective

A firm's demand function is given by Q = 100 - 2P. If the price of the good increases by 20%, what will happen to the firm's revenue?

Answer Options

A. It will increase by 20%
Correct Answer B. It will decrease by 20%
C. It will remain unchanged
D. It will increase by 40%
Correct Answer
B
Correct Option:
It will decrease by 20%

About This Question

This is Post Utme Noun 2023 Commerce Question 14. It is one of the objective questions from the 2023 Post Utme Noun Commerce examination.

View More Post Utme Noun 2023 Commerce Questions More Post Utme Noun Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support