Post Utme Joseph Ayo Babalola University 2017 Economics Question 27

Practice objective / multiple choice question 27 from the 2017 Post Utme Joseph Ayo Babalola University Economics examination.

Post Utme Joseph Ayo Babalola University 2017 Economics Objective / Multiple Choice
Question 27 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2017 • ECONOMICS • objective

The following diagram shows the supply and demand curves for a commodity. What is the effect of an increase in the price of the commodity on the equilibrium quantity?

Answer Options

Correct Answer A. Increase
B. Decrease
C. No change
D. Indeterminate
Correct Answer
A
Correct Option:
Increase

About This Question

This is Post Utme Joseph Ayo Babalola University 2017 Economics Question 27. It is one of the objective questions from the 2017 Post Utme Joseph Ayo Babalola University Economics examination.

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