Post Utme Covenant University 2017 Commerce Question 6

Practice objective / multiple choice question 6 from the 2017 Post Utme Covenant University Commerce examination.

Post Utme Covenant University 2017 Commerce Objective / Multiple Choice
Question 6 POST_UTME_COVENANT_UNIVERSITY • 2017 • COMMERCE • objective

In a perfectly competitive market, the law of supply states that as the price of a commodity increases, the quantity supplied will

Answer Options

A. increase
Correct Answer B. decrease
C. remain constant
D. increase then decrease
Correct Answer
B
Correct Option:
decrease

About This Question

This is Post Utme Covenant University 2017 Commerce Question 6. It is one of the objective questions from the 2017 Post Utme Covenant University Commerce examination.

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