Post Utme Esut 2022 Economics Question 37

Practice objective / multiple choice question 37 from the 2022 Post Utme Esut Economics examination.

Post Utme Esut 2022 Economics Objective / Multiple Choice
Question 37 POST_UTME_ESUT • 2022 • ECONOMICS • objective

A government imposes a tax on a firm's output. If the firm's supply curve shifts to the left, what is the effect on the equilibrium price and quantity?

Answer Options

Correct Answer A. The equilibrium price increases, and the equilibrium quantity decreases.
B. The equilibrium price decreases, and the equilibrium quantity increases.
C. The equilibrium price remains the same, and the equilibrium quantity decreases.
D. The equilibrium price increases, and the equilibrium quantity remains the same.
Correct Answer
A
Correct Option:
The equilibrium price increases, and the equilibrium quantity decreases.

About This Question

This is Post Utme Esut 2022 Economics Question 37. It is one of the objective questions from the 2022 Post Utme Esut Economics examination.

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