Post Utme Redeemers University 2023 Economics Question 22

Practice objective / multiple choice question 22 from the 2023 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2023 Economics Objective / Multiple Choice

Question 22 POST_UTME_REDEEMERS_UNIVERSITY • 2023 • ECONOMICS • objective

A monopolistically competitive firm is producing a good with a demand curve that is downward sloping. If the firm increases its price, what will happen to its total revenue?

Answer Options

A. Total revenue will increase

Correct Answer B. Total revenue will decrease

C. Total revenue will remain the same

D. The effect on total revenue is uncertain

Correct Answer

Correct Option:

Total revenue will decrease

About This Question

This is Post Utme Redeemers University 2023 Economics Question 22. It is one of the objective questions from the 2023 Post Utme Redeemers University Economics examination.

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