Post Utme Ui 2020 Economics Question 22

Practice objective / multiple choice question 22 from the 2020 Post Utme Ui Economics examination.

Post Utme Ui 2020 Economics Objective / Multiple Choice
Question 22 POST_UTME_UI • 2020 • ECONOMICS • objective

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

Answer Options

A. Increase in revenue
Correct Answer B. Decrease in revenue
C. No change in revenue
D. Uncertain effect on revenue
Correct Answer
B
Correct Option:
Decrease in revenue

About This Question

This is Post Utme Ui 2020 Economics Question 22. It is one of the objective questions from the 2020 Post Utme Ui Economics examination.

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