Post Utme Lautech 2017 Commerce Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Lautech Commerce examination.

Post Utme Lautech 2017 Commerce Objective / Multiple Choice
Question 1 POST_UTME_LAUTECH • 2017 • COMMERCE • objective

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

Answer Options

A. increase
B. decrease
C. remain constant
Correct Answer D. move in the opposite direction of the price change
Correct Answer
D
Correct Option:
move in the opposite direction of the price change

About This Question

This is Post Utme Lautech 2017 Commerce Question 1. It is one of the objective questions from the 2017 Post Utme Lautech Commerce examination.

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