Post Utme Futa 2021 Economics Question 37

Practice objective / multiple choice question 37 from the 2021 Post Utme Futa Economics examination.

Post Utme Futa 2021 Economics Objective / Multiple Choice
Question 37 POST_UTME_FUTA • 2021 • ECONOMICS • objective

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

Answer Options

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

About This Question

This is Post Utme Futa 2021 Economics Question 37. It is one of the objective questions from the 2021 Post Utme Futa Economics examination.

View More Post Utme Futa 2021 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