Post Utme Covenant University 2021 Economics Question 1

Practice objective / multiple choice question 1 from the 2021 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2021 Economics Objective / Multiple Choice
Question 1 POST_UTME_COVENANT_UNIVERSITY • 2021 • ECONOMICS • objective

In a perfectly competitive market, if the demand for a good increases, what happens to the equilibrium price?

Answer Options

A. The equilibrium price increases
B. The equilibrium price decreases
Correct Answer C. The equilibrium price remains unchanged
D. The equilibrium price becomes negative
Correct Answer
C
Correct Option:
The equilibrium price remains unchanged

About This Question

This is Post Utme Covenant University 2021 Economics Question 1. It is one of the objective questions from the 2021 Post Utme Covenant University Economics examination.

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