Post Utme Osustech 2020 Economics Question 19

Practice objective / multiple choice question 19 from the 2020 Post Utme Osustech Economics examination.

Post Utme Osustech 2020 Economics Objective / Multiple Choice
Question 19 POST_UTME_OSUSTECH • 2020 • ECONOMICS • objective

A firm is facing a downward-sloping demand curve. U\sing the concept of elasticity of demand, explain the likely effect of a decrease in the price of the good on the quantity demanded.

Answer Options

Correct Answer A. The quantity demanded will increase.
B. The quantity demanded will decrease.
C. The quantity demanded will remain the same.
D. The quantity demanded will increase, but at a decrea\sing rate.
Correct Answer
A
Correct Option:
The quantity demanded will increase.

About This Question

This is Post Utme Osustech 2020 Economics Question 19. It is one of the objective questions from the 2020 Post Utme Osustech Economics examination.

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