Post Utme Rhema University 2017 Economics Question 27

Practice objective / multiple choice question 27 from the 2017 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2017 Economics Objective / Multiple Choice
Question 27 POST_UTME_RHEMA_UNIVERSITY • 2017 • ECONOMICS • objective

A monopolistically competitive firm faces a downward-sloping demand curve. If the firm increases its price, what will happen to its revenue?

Answer Options

A. Revenue will increase
Correct Answer B. Revenue will decrease
C. Revenue will remain unchanged
D. Revenue will increase, but at a slower rate
Correct Answer
B
Correct Option:
Revenue will decrease

About This Question

This is Post Utme Rhema University 2017 Economics Question 27. It is one of the objective questions from the 2017 Post Utme Rhema University Economics examination.

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