Post Utme Coal City University 2024 Commerce Question 21

Practice objective / multiple choice question 21 from the 2024 Post Utme Coal City University Commerce examination.

Post Utme Coal City University 2024 Commerce Objective / Multiple Choice
Question 21 POST_UTME_COAL_CITY_UNIVERSITY • 2024 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because

Answer Options

Correct Answer A. Firms are willing to supply more at a higher price
B. Firms are willing to supply less at a lower price
C. The law of diminishing marginal returns is in effect
D. The market is characterized by a fixed supply
Correct Answer
A
Correct Option:
Firms are willing to supply more at a higher price

About This Question

This is Post Utme Coal City University 2024 Commerce Question 21. It is one of the objective questions from the 2024 Post Utme Coal City University Commerce examination.

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