Post Utme Caleb University 2022 Commerce Question 9

Practice objective / multiple choice question 9 from the 2022 Post Utme Caleb University Commerce examination.

Post Utme Caleb University 2022 Commerce Objective / Multiple Choice
Question 9 POST_UTME_CALEB_UNIVERSITY • 2022 • COMMERCE • objective

A firm's supply curve is upward-sloping, indicating that as the price of a good increases, the quantity supplied also 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 9. It is one of the objective questions from the 2022 Post Utme Caleb University Commerce examination.

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