Post Utme Al Hikmah University 2021 Commerce Question 1

Practice objective / multiple choice question 1 from the 2021 Post Utme Al Hikmah University Commerce examination.

Post Utme Al Hikmah University 2021 Commerce Objective / Multiple Choice
Question 1 POST_UTME_AL-HIKMAH_UNIVERSITY • 2021 • COMMERCE • objective

In a perfectly competitive market, the supply curve is perfectly elastic. What is the implication of this for the firm's ability to influence the market price?

Answer Options

A. The firm has significant market power to influence the market price.
Correct Answer B. The firm has no ability to influence the market price.
C. The firm's ability to influence the market price is uncertain.
D. The firm's ability to influence the market price depends on the market structure.
Correct Answer
B
Correct Option:
The firm has no ability to influence the market price.

About This Question

This is Post Utme Al Hikmah University 2021 Commerce Question 1. It is one of the objective questions from the 2021 Post Utme Al Hikmah University Commerce examination.

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