Post Utme Caleb University 2022 Commerce Question 10

Practice objective / multiple choice question 10 from the 2022 Post Utme Caleb University Commerce examination.

Post Utme Caleb University 2022 Commerce Objective / Multiple Choice
Question 10 POST_UTME_CALEB_UNIVERSITY • 2022 • COMMERCE • objective

A firm's demand curve is downward-sloping, indicating that as the price of a good decreases, the quantity demanded increases. Which of the following is a correct explanation for this phenomenon?

Answer Options

Correct Answer A. The firm is a price-taker and has no control over the price of the good.
B. The firm is a price-maker and has control over the price of the good.
C. The firm is a monopolist and has a downward-sloping demand curve.
D. The firm is a competitive firm and has a downward-sloping supply curve.
Correct Answer
A
Correct Option:
The firm is a price-taker and has no control over the price of the good.

About This Question

This is Post Utme Caleb University 2022 Commerce Question 10. It is one of the objective questions from the 2022 Post Utme Caleb University Commerce examination.

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