Post Utme Pan Atlantic University 2019 Economics Question 2

Practice objective / multiple choice question 2 from the 2019 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2019 Economics Objective / Multiple Choice

Question 2 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2019 • ECONOMICS • objective

A monopolistically competitive firm faces a downward-sloping demand curve. 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. There will be no change in the quantity demanded.

Correct Answer

Correct Option:

The quantity demanded will decrease.

About This Question

This is Post Utme Pan Atlantic University 2019 Economics Question 2. It is one of the objective questions from the 2019 Post Utme Pan Atlantic University Economics examination.

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