Post Utme Futa 2022 Commerce Question 31

Practice objective / multiple choice question 31 from the 2022 Post Utme Futa Commerce examination.

Post Utme Futa 2022 Commerce Objective / Multiple Choice
Question 31 POST_UTME_FUTA • 2022 • COMMERCE • objective

In a perfectly competitive market, the supply curve is perfectly elastic. What is the implication of this on the price elasticity of demand?

Answer Options

A. The price elasticity of demand is perfectly inelastic.
Correct Answer B. The price elasticity of demand is perfectly elastic.
C. The price elasticity of demand is unit elastic.
D. The price elasticity of demand is not affected.
Correct Answer
B
Correct Option:
The price elasticity of demand is perfectly elastic.

About This Question

This is Post Utme Futa 2022 Commerce Question 31. It is one of the objective questions from the 2022 Post Utme Futa Commerce examination.

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