Post Utme Futo 2024 Commerce Question 1

Practice objective / multiple choice question 1 from the 2024 Post Utme Futo Commerce examination.

Post Utme Futo 2024 Commerce Objective / Multiple Choice
Question 1 POST_UTME_FUTO • 2024 • COMMERCE • objective

In a perfectly competitive market, the supply curve is horizontal and the demand curve is downward-sloping. What is the effect of an increase in the price of a complementary good on the demand for the product?

Answer Options

A. The demand for the product increases.
Correct Answer B. The demand for the product decreases.
C. The demand for the product remains unchanged.
D. The demand for the product becomes perfectly inelastic.
Correct Answer
B
Correct Option:
The demand for the product decreases.

About This Question

This is Post Utme Futo 2024 Commerce Question 1. It is one of the objective questions from the 2024 Post Utme Futo Commerce examination.

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