Post Utme Futa 2023 Commerce Question 2

Practice objective / multiple choice question 2 from the 2023 Post Utme Futa Commerce examination.

Post Utme Futa 2023 Commerce Objective / Multiple Choice
Question 2 POST_UTME_FUTA • 2023 • COMMERCE • objective
Post Utme Futa 2023 Commerce Question 2 diagram

The following diagram shows the demand and supply curves for a competitive market. If the price of the good increases from P1 to P2, what will happen to the equilibrium quantity?

Answer Options

A. Increase
Correct Answer B. Decrease
C. Remain the same
D. Become negative
Correct Answer
B
Correct Option:
Decrease

About This Question

This is Post Utme Futa 2023 Commerce Question 2. It is one of the objective questions from the 2023 Post Utme Futa Commerce examination.

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