Post Utme Bells University 2021 Commerce Question 21

Practice objective / multiple choice question 21 from the 2021 Post Utme Bells University Commerce examination.

Post Utme Bells University 2021 Commerce Objective / Multiple Choice

Question 21 POST_UTME_BELLS_UNIVERSITY • 2021 • 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 supply curve?

Answer Options

Correct Answer A. The supply curve shifts to the left.

B. The supply curve shifts to the right.

C. The supply curve remains unchanged.

D. The supply curve becomes vertical.

Correct Answer

Correct Option:

The supply curve shifts to the left.

About This Question

This is Post Utme Bells University 2021 Commerce Question 21. It is one of the objective questions from the 2021 Post Utme Bells University Commerce examination.

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