Post Utme Eksu 2023 Commerce Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Eksu Commerce examination.

Post Utme Eksu 2023 Commerce Objective / Multiple Choice
Question 16 POST_UTME_EKSU • 2023 • 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 demand for the product?

Answer Options

A. The demand for the product increases.
Correct Answer B. The demand for the product decreases.
C. The demand for the product remains unchanged.
D. The demand for the product increases, but at a decreasing rate.
Correct Answer
B
Correct Option:
The demand for the product decreases.

About This Question

This is Post Utme Eksu 2023 Commerce Question 16. It is one of the objective questions from the 2023 Post Utme Eksu Commerce examination.

View More Post Utme Eksu 2023 Commerce Questions More Post Utme Eksu Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support