Post Utme Caleb University 2022 Economics Question 25

Practice objective / multiple choice question 25 from the 2022 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2022 Economics Objective / Multiple Choice
Question 25 POST_UTME_CALEB_UNIVERSITY • 2022 • ECONOMICS • objective

A government imposes a tax on a particular good, which leads to a decrease in its supply. What is the effect on the equilibrium price and quantity of the good?

Answer Options

A. Price increases, quantity decreases
B. Price decreases, quantity increases
C. Price increases, quantity increases
Correct Answer D. Price decreases, quantity decreases
Correct Answer
D
Correct Option:
Price decreases, quantity decreases

About This Question

This is Post Utme Caleb University 2022 Economics Question 25. It is one of the objective questions from the 2022 Post Utme Caleb University Economics examination.

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