Post Utme Afe Babalola University 2022 Commerce Question 21

Practice objective / multiple choice question 21 from the 2022 Post Utme Afe Babalola University Commerce examination.

Post Utme Afe Babalola University 2022 Commerce Objective / Multiple Choice
Question 21 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2022 • COMMERCE • objective

In a perfectly competitive market, the supply curve is horizontal and the demand curve is downward-sloping. What is the effect of an increase in the price of a complementary good on the demand for a good?

Answer Options

A. The demand for the good increases.
Correct Answer B. The demand for the good decreases.
C. The demand for the good remains unchanged.
D. The demand for the good increases, but at a decreasing rate.
Correct Answer
B
Correct Option:
The demand for the good decreases.

About This Question

This is Post Utme Afe Babalola University 2022 Commerce Question 21. It is one of the objective questions from the 2022 Post Utme Afe Babalola University Commerce examination.

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