Post Utme Futo 2018 Economics Question 1

Practice objective / multiple choice question 1 from the 2018 Post Utme Futo Economics examination.

Post Utme Futo 2018 Economics Objective / Multiple Choice
Question 1 POST_UTME_FUTO • 2018 • ECONOMICS • objective

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

Answer Options

A. The equilibrium price will increase.
B. The equilibrium price will decrease.
Correct Answer C. The equilibrium price will remain unchanged.
D. The equilibrium price will fluctuate.
Correct Answer
C
Correct Option:
The equilibrium price will remain unchanged.

About This Question

This is Post Utme Futo 2018 Economics Question 1. It is one of the objective questions from the 2018 Post Utme Futo Economics examination.

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