Post Utme Christopher University 2021 Economics Question 14

Practice objective / multiple choice question 14 from the 2021 Post Utme Christopher University Economics examination.

Post Utme Christopher University 2021 Economics Objective / Multiple Choice
Question 14 POST_UTME_CHRISTOPHER_UNIVERSITY • 2021 • ECONOMICS • objective

A government imposes a tax on a firm's output, cau\sing the firm's supply curve to shift to the left. If the firm's demand curve is inelastic, what is the likely effect on the firm's price and quantity sold?

Answer Options

Correct Answer A. The firm's price will increase, and its quantity sold will decrease.
B. The firm's price will decrease, and its quantity sold will increase.
C. The firm's price will remain unchanged, and its quantity sold will decrease.
D. The firm's price will increase, and its quantity sold will remain unchanged.
Correct Answer
A
Correct Option:
The firm's price will increase, and its quantity sold will decrease.

About This Question

This is Post Utme Christopher University 2021 Economics Question 14. It is one of the objective questions from the 2021 Post Utme Christopher University Economics examination.

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