Post Utme Uniben 2024 Economics Question 7

Practice objective / multiple choice question 7 from the 2024 Post Utme Uniben Economics examination.

Post Utme Uniben 2024 Economics Objective / Multiple Choice
Question 7 POST_UTME_UNIBEN • 2024 • ECONOMICS • objective

A firm is facing a perfectly elastic demand curve. If the firm increases the price of its product by 10%, what will happen to its revenue?

Answer Options

A. The revenue will increase by 10%
Correct Answer B. The revenue will decrease by 10%
C. The revenue will remain the same
D. The revenue will increase by 20%
Correct Answer
B
Correct Option:
The revenue will decrease by 10%

About This Question

This is Post Utme Uniben 2024 Economics Question 7. It is one of the objective questions from the 2024 Post Utme Uniben Economics examination.

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