Post Utme Covenant University 2018 Commerce Question 11

Practice objective / multiple choice question 11 from the 2018 Post Utme Covenant University Commerce examination.

Post Utme Covenant University 2018 Commerce Objective / Multiple Choice
Question 11 POST_UTME_COVENANT_UNIVERSITY • 2018 • COMMERCE • objective

In a perfectly competitive market, the supply curve is horizontal and the demand curve is downward-sloping. What is the effect of an increase in the price of a complementary good on the supply curve?

Answer Options

A. The supply curve shifts to the left.
Correct Answer B. The supply curve shifts to the right.
C. The supply curve remains unchanged.
D. The supply curve shifts downward.
Correct Answer
B
Correct Option:
The supply curve shifts to the right.

About This Question

This is Post Utme Covenant University 2018 Commerce Question 11. It is one of the objective questions from the 2018 Post Utme Covenant University Commerce examination.

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