Post Utme Osustech 2017 Economics Question 24

Practice objective / multiple choice question 24 from the 2017 Post Utme Osustech Economics examination.

Post Utme Osustech 2017 Economics Objective / Multiple Choice
Question 24 POST_UTME_OSUSTECH • 2017 • ECONOMICS • objective

A firm is operating in a market with a high degree of monopoly power. If the firm increases its price, what will happen to its quantity demanded?

Answer Options

A. The quantity demanded will increase.
Correct Answer B. The quantity demanded will decrease.
C. The quantity demanded will remain the same.
D. The firm will not be able to change the quantity demanded.
Correct Answer
B
Correct Option:
The quantity demanded will decrease.

About This Question

This is Post Utme Osustech 2017 Economics Question 24. It is one of the objective questions from the 2017 Post Utme Osustech Economics examination.

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