Post Utme Oau 2020 Economics Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Oau Economics examination.

Post Utme Oau 2020 Economics Objective / Multiple Choice

Question 1 POST_UTME_OAU • 2020 • ECONOMICS • objective

A firm faces a downward-sloping demand curve for its product. If the firm increases its price, what will happen to its total revenue?

A. Total revenue will increase

Correct Answer B. Total revenue will decrease

C. Total revenue will remain unchanged

D. Total revenue will increase at first and then decrease

Correct Answer

Correct Option:

Total revenue will decrease

This is Post Utme Oau 2020 Economics Question 1. It is one of the objective questions from the 2020 Post Utme Oau Economics examination.

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