Post Utme Joseph Ayo Babalola University 2023 Economics Question 13

Practice objective / multiple choice question 13 from the 2023 Post Utme Joseph Ayo Babalola University Economics examination.

Post Utme Joseph Ayo Babalola University 2023 Economics Objective / Multiple Choice

Question 13 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2023 • ECONOMICS • objective

A country's agricultural sector is characterized by a high degree of monopolistic competition. What is the likely effect of an increase in the price of a key input on the industry's supply curve?

Answer Options

A. The supply curve shifts to the left

Correct Answer B. The supply curve shifts to the right

C. The supply curve remains unchanged

D. The supply curve shifts downward

Correct Answer

Correct Option:

The supply curve shifts to the right

About This Question

This is Post Utme Joseph Ayo Babalola University 2023 Economics Question 13. It is one of the objective questions from the 2023 Post Utme Joseph Ayo Babalola University Economics examination.

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