Post Utme Afe Babalola University 2023 Commerce Question 31
Practice objective / multiple choice question 31 from the 2023 Post Utme Afe Babalola University Commerce examination.
In a perfectly competitive market, the law of supply states that as the price of a good increases, the quantity supplied of that good will also increase. However, this increase in quantity supplied is not due to an increase in the quantity of resources used, but rather due to an increase in the efficiency of the resources used. Which of the following best describes this phenomenon?
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This is Post Utme Afe Babalola University 2023 Commerce Question 31. It is one of the objective questions from the 2023 Post Utme Afe Babalola University Commerce examination.
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