Post Utme Achievers University 2019 Economics Question 31

Practice objective / multiple choice question 31 from the 2019 Post Utme Achievers University Economics examination.

Post Utme Achievers University 2019 Economics Objective / Multiple Choice
Question 31 POST_UTME_ACHIEVERS_UNIVERSITY • 2019 • ECONOMICS • objective

In a perfectly competitive market, if the demand for a commodity increases, what happens to the equilibrium price and quantity?

Answer Options

A. The equilibrium price increases and the equilibrium quantity decreases
B. The equilibrium price decreases and the equilibrium quantity increases
C. The equilibrium price remains the same and the equilibrium quantity increases
Correct Answer D. The equilibrium price increases and the equilibrium quantity increases
Correct Answer
D
Correct Option:
The equilibrium price increases and the equilibrium quantity increases

About This Question

This is Post Utme Achievers University 2019 Economics Question 31. It is one of the objective questions from the 2019 Post Utme Achievers University Economics examination.

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