Post Utme Lautech 2018 Commerce Question 28

Practice objective / multiple choice question 28 from the 2018 Post Utme Lautech Commerce examination.

Post Utme Lautech 2018 Commerce Objective / Multiple Choice
Question 28 POST_UTME_LAUTECH • 2018 • 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
Correct Answer B. decrease
C. remain constant
D. fluctuate
Correct Answer
B
Correct Option:
decrease

About This Question

This is Post Utme Lautech 2018 Commerce Question 28. It is one of the objective questions from the 2018 Post Utme Lautech Commerce examination.

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