Post Utme Rhema University 2019 Economics Question 2

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

Post Utme Rhema University 2019 Economics Objective / Multiple Choice
Question 2 POST_UTME_RHEMA_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. The firm will experience a decrease in revenue.
Correct Answer
B
Correct Option:
The quantity demanded will decrease.

About This Question

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

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