Post Utme Eksu 2017 Economics Question 26

Practice objective / multiple choice question 26 from the 2017 Post Utme Eksu Economics examination.

Post Utme Eksu 2017 Economics Objective / Multiple Choice
Question 26 POST_UTME_EKSU • 2017 • ECONOMICS • objective

In a perfectly competitive market, if the demand for a commodity increases, what will happen to the equilibrium price?

Answer Options

A. The equilibrium price will decrease
Correct Answer B. The equilibrium price will increase
C. The equilibrium price will remain unchanged
D. The equilibrium price will fluctuate
Correct Answer
B
Correct Option:
The equilibrium price will increase

About This Question

This is Post Utme Eksu 2017 Economics Question 26. It is one of the objective questions from the 2017 Post Utme Eksu Economics examination.

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