Waec Model Questions Vol1 2024 Economics Question 8

Practice objective / multiple choice question 8 from the 2024 Waec Model Questions Vol1 Economics examination.

Waec Model Questions Vol1 2024 Economics Objective / Multiple Choice Easy Difficulty
Question 8 WAEC_MODEL_QUESTIONS_VOL1 • 2024 • ECONOMICS • objective

If the supply of a good increases, what is the likely effect on the equilibrium price and equilibrium quantity in the market?

Answer Options

A. Equilibrium price falls and equilibrium quantity falls
B. Equilibrium price unchanged and equilibrium quantity rises
C. Equilibrium price rises and equilibrium quantity falls
Correct Answer D. Equilibrium price falls and equilibrium quantity rises
Correct Answer
D
Correct Option:
Equilibrium price falls and equilibrium quantity rises

About This Question

This is Waec Model Questions Vol1 2024 Economics Question 8. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Economics examination.

Difficulty level: Easy .

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