Post Utme Joseph Ayo Babalola University 2021 Commerce Question 6

Practice objective / multiple choice question 6 from the 2021 Post Utme Joseph Ayo Babalola University Commerce examination.

Post Utme Joseph Ayo Babalola University 2021 Commerce Objective / Multiple Choice
Question 6 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2021 • COMMERCE • objective

In a perfectly competitive market, the law of supply states that as the price of a good increases, the quantity supplied will

Answer Options

A. increase
Correct Answer B. decrease
C. remain the same
D. become perfectly inelastic
Correct Answer
B
Correct Option:
decrease

About This Question

This is Post Utme Joseph Ayo Babalola University 2021 Commerce Question 6. It is one of the objective questions from the 2021 Post Utme Joseph Ayo Babalola University Commerce examination.

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