Post Utme Lead City University 2019 Commerce Question 21

Practice objective / multiple choice question 21 from the 2019 Post Utme Lead City University Commerce examination.

Post Utme Lead City University 2019 Commerce Objective / Multiple Choice

Question 21 POST_UTME_LEAD_CITY_UNIVERSITY • 2019 • COMMERCE • objective

In a perfectly competitive market, the supply curve is horizontal and the demand curve is downward-sloping. If the price of a commodity increases, what will happen to the quantity supplied?

Answer Options

A. The quantity supplied will decrease

Correct Answer B. The quantity supplied will increase

C. The quantity supplied will remain the same

D. The quantity supplied will be unaffected

Correct Answer

Correct Option:

The quantity supplied will increase

About This Question

This is Post Utme Lead City University 2019 Commerce Question 21. It is one of the objective questions from the 2019 Post Utme Lead City University Commerce examination.

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