Post Utme Esut 2022 Economics Question 39

Practice objective / multiple choice question 39 from the 2022 Post Utme Esut Economics examination.

Post Utme Esut 2022 Economics Objective / Multiple Choice
Question 39 POST_UTME_ESUT • 2022 • ECONOMICS • objective

A government in Nigeria introduces a new policy to increase agricultural production. If the policy leads to an increase in the supply of maize, what is the effect on the equilibrium price and quantity?

Answer Options

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

About This Question

This is Post Utme Esut 2022 Economics Question 39. It is one of the objective questions from the 2022 Post Utme Esut Economics examination.

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