Post Utme Futo 2020 Geography Question 3

Practice objective / multiple choice question 3 from the 2020 Post Utme Futo Geography examination.

Post Utme Futo 2020 Geography Objective / Multiple Choice
Question 3 POST_UTME_FUTO • 2020 • GEOGRAPHY • objective
Post Utme Futo 2020 Geography Question 3 diagram

The diagram below shows a simple economic model of supply and demand. What is the effect of an increase in consumer income on the equilibrium price and quantity?

Answer Options

A. The equilibrium price increases and the equilibrium quantity decreases
B. The equilibrium price decreases and the equilibrium quantity increases
C. The equilibrium price remains unchanged and the equilibrium quantity increases
Correct Answer D. The equilibrium price increases and the equilibrium quantity increases
Correct Answer
D
Correct Option:
The equilibrium price increases and the equilibrium quantity increases

About This Question

This is Post Utme Futo 2020 Geography Question 3. It is one of the objective questions from the 2020 Post Utme Futo Geography examination.

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