Post Utme Oau 2020 Economics Question 3

Practice objective / multiple choice question 3 from the 2020 Post Utme Oau Economics examination.

Post Utme Oau 2020 Economics Objective / Multiple Choice
Question 3 POST_UTME_OAU • 2020 • ECONOMICS • objective

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

Answer Options

A. Total revenue will increase
B. Total revenue will decrease
C. Total revenue will remain unchanged
Correct Answer D. Total revenue will increase at first and then decrease
Correct Answer
D
Correct Option:
Total revenue will increase at first and then decrease

About This Question

This is Post Utme Oau 2020 Economics Question 3. It is one of the objective questions from the 2020 Post Utme Oau Economics examination.

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