Post Utme Veritas University 2023 Economics Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2023 Economics Objective / Multiple Choice
Question 16 POST_UTME_VERITAS_UNIVERSITY • 2023 • ECONOMICS • objective

A firm is operating in a perfectly competitive market with a downward-sloping demand curve. If the firm increases its price, what will happen to its revenue?

Answer Options

A. Revenue will increase
Correct Answer B. Revenue will decrease
C. Revenue will remain the same
D. Revenue will increase at first, then decrease
Correct Answer
B
Correct Option:
Revenue will decrease

About This Question

This is Post Utme Veritas University 2023 Economics Question 16. It is one of the objective questions from the 2023 Post Utme Veritas University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support