Post Utme Caleb University 2018 Commerce Question 16

Practice objective / multiple choice question 16 from the 2018 Post Utme Caleb University Commerce examination.

Post Utme Caleb University 2018 Commerce Objective / Multiple Choice
Question 16 POST_UTME_CALEB_UNIVERSITY • 2018 • COMMERCE • objective

In a perfectly competitive market, if the demand for a product increases, what will happen to the equilibrium price and quantity?

Answer Options

A. Price will decrease and quantity will increase
Correct Answer B. Price will increase and quantity will decrease
C. Price will remain the same and quantity will increase
D. Price will decrease and quantity will decrease
Correct Answer
B
Correct Option:
Price will increase and quantity will decrease

About This Question

This is Post Utme Caleb University 2018 Commerce Question 16. It is one of the objective questions from the 2018 Post Utme Caleb University Commerce examination.

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