Post Utme Unilag 2024 Commerce Question 21

Practice objective / multiple choice question 21 from the 2024 Post Utme Unilag Commerce examination.

Post Utme Unilag 2024 Commerce Objective / Multiple Choice
Question 21 POST_UTME_UNILAG • 2024 • COMMERCE • objective

In a competitive market, a firm's demand curve is downward sloping. What is the likely effect of an increase in the firm's price on 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 Unilag 2024 Commerce Question 21. It is one of the objective questions from the 2024 Post Utme Unilag Commerce examination.

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