Post Utme Bowen University 2022 Economics Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2022 Economics Objective / Multiple Choice
Question 1 POST_UTME_BOWEN_UNIVERSITY • 2022 • ECONOMICS • objective

Consider a perfectly competitive market with n firms. If each firm increases its output by 10%, what is the expected change in the market supply curve?

Answer Options

A. The market supply curve shifts to the left.
Correct Answer B. The market supply curve shifts to the right.
C. The market supply curve remains unchanged.
D. The market supply curve shifts upward.
Correct Answer
B
Correct Option:
The market supply curve shifts to the right.

About This Question

This is Post Utme Bowen University 2022 Economics Question 1. It is one of the objective questions from the 2022 Post Utme Bowen University Economics examination.

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