Post Utme Ui 2025 Economics Question 6

Practice objective / multiple choice question 6 from the 2025 Post Utme Ui Economics examination.

Post Utme Ui 2025 Economics Objective / Multiple Choice
Question 6 POST_UTME_UI • 2025 • ECONOMICS • objective

In a perfectly competitive market, the demand curve for a firm's product is perfectly elastic. If the firm increases its price by 10%, what will be the effect on the quantity demanded of its product?

Answer Options

A. The quantity demanded will increase by 10%
Correct Answer B. The quantity demanded will decrease by 10%
C. The quantity demanded will remain unchanged
D. The quantity demanded will increase by 20%
Correct Answer
B
Correct Option:
The quantity demanded will decrease by 10%

About This Question

This is Post Utme Ui 2025 Economics Question 6. It is one of the objective questions from the 2025 Post Utme Ui Economics examination.

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