Post Utme Ims U 2018 Economics Question 24

Practice objective / multiple choice question 24 from the 2018 Post Utme Ims U Economics examination.

Post Utme Ims U 2018 Economics Objective / Multiple Choice
Question 24 POST_UTME_IMS_U • 2018 • ECONOMICS • objective

A firm's demand curve (D) is downward sloping and the firm's supply curve (S) is upward sloping. If the price of the good increases, what is the likely outcome for the firm's quantity supplied?

Answer Options

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

About This Question

This is Post Utme Ims U 2018 Economics Question 24. It is one of the objective questions from the 2018 Post Utme Ims U Economics examination.

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