Post Utme Elizade University 2020 Commerce Question 31

Practice objective / multiple choice question 31 from the 2020 Post Utme Elizade University Commerce examination.

Post Utme Elizade University 2020 Commerce Objective / Multiple Choice
Question 31 POST_UTME_ELIZADE_UNIVERSITY • 2020 • 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. decrease
Correct Answer B. increase
C. remain constant
D. become elastic
Correct Answer
B
Correct Option:
increase

About This Question

This is Post Utme Elizade University 2020 Commerce Question 31. It is one of the objective questions from the 2020 Post Utme Elizade University Commerce examination.

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