Post Utme Futa 2017 Economics Question 38

Practice objective / multiple choice question 38 from the 2017 Post Utme Futa Economics examination.

Post Utme Futa 2017 Economics Objective / Multiple Choice
Question 38 POST_UTME_FUTA • 2017 • ECONOMICS • objective

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

Answer Options

Correct Answer A. Price increases and quantity decreases
B. Price decreases and quantity increases
C. Price increases and quantity increases
D. Price decreases and quantity decreases
Correct Answer
A
Correct Option:
Price increases and quantity decreases

About This Question

This is Post Utme Futa 2017 Economics Question 38. It is one of the objective questions from the 2017 Post Utme Futa Economics examination.

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