Post Utme Bells University 2019 Commerce Question 26
Practice objective / multiple choice question 26 from the 2019 Post Utme Bells University Commerce examination.
In a perfectly competitive market, the law of supply states that as the price of a commodity increases, the quantity supplied also increases. However, this is not always the case. What is the name of the phenomenon that occurs when an increase in price leads to a decrease in quantity supplied?
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About This Question
This is Post Utme Bells University 2019 Commerce Question 26. It is one of the objective questions from the 2019 Post Utme Bells University Commerce examination.
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