Post Utme Greenfield University 2022 Commerce Question 21

Practice objective / multiple choice question 21 from the 2022 Post Utme Greenfield University Commerce examination.

Post Utme Greenfield University 2022 Commerce Objective / Multiple Choice
Question 21 POST_UTME_GREENFIELD_UNIVERSITY • 2022 • COMMERCE • objective

In a competitive market, a firm's demand curve is downward sloping. What is the primary reason for this downward slope?

Answer Options

A. The firm's production costs are increasing.
Correct Answer B. The firm's product is a substitute for other products.
C. The firm's product is a complement to other products.
D. The firm's product is a necessity.
Correct Answer
B
Correct Option:
The firm's product is a substitute for other products.

About This Question

This is Post Utme Greenfield University 2022 Commerce Question 21. It is one of the objective questions from the 2022 Post Utme Greenfield University Commerce examination.

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