Post Utme Ims U 2023 Economics Question 15

Practice objective / multiple choice question 15 from the 2023 Post Utme Ims U Economics examination.

Post Utme Ims U 2023 Economics Objective / Multiple Choice

Question 15 POST_UTME_IMS_U • 2023 • ECONOMICS • objective

A firm is faced with a perfectly competitive market structure. What is the likely effect on the firm's price and quantity sold?

A. Price increases and quantity sold decreases

Correct Answer B. Price decreases and quantity sold increases

C. Price remains the same and quantity sold remains the same

D. Price increases and quantity sold increases

Correct Answer

Correct Option:

Price decreases and quantity sold increases

This is Post Utme Ims U 2023 Economics Question 15. It is one of the objective questions from the 2023 Post Utme Ims U Economics examination.

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