Post Utme Babcock University 2025 Economics Question 33

Practice objective / multiple choice question 33 from the 2025 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2025 Economics Objective / Multiple Choice
Question 33 POST_UTME_BABCOCK_UNIVERSITY • 2025 • ECONOMICS • objective

A country's agricultural sector is characterized by a high degree of price elasticity of supply. What is the likely effect of a price increase on the quantity supplied?

Answer Options

A. Increase in quantity supplied
Correct Answer B. Decrease in quantity supplied
C. No change in quantity supplied
D. Increase in price
Correct Answer
B
Correct Option:
Decrease in quantity supplied

About This Question

This is Post Utme Babcock University 2025 Economics Question 33. It is one of the objective questions from the 2025 Post Utme Babcock University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support