Post Utme Futa 2020 Economics Question 21

Practice objective / multiple choice question 21 from the 2020 Post Utme Futa Economics examination.

Post Utme Futa 2020 Economics Objective / Multiple Choice
Question 21 POST_UTME_FUTA • 2020 • ECONOMICS • objective

In a perfectly competitive market, if the demand for a good increases, what will happen to the equilibrium price and quantity?

Answer Options

A. Price will increase and quantity will decrease
Correct Answer B. Price will decrease and quantity will increase
C. Price will remain the same and quantity will increase
D. Price will increase and quantity will increase
Correct Answer
B
Correct Option:
Price will decrease and quantity will increase

About This Question

This is Post Utme Futa 2020 Economics Question 21. It is one of the objective questions from the 2020 Post Utme Futa Economics examination.

View More Post Utme Futa 2020 Economics Questions More Post Utme Futa 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