Post Utme Madonna University 2020 Commerce Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Madonna University Commerce examination.

Post Utme Madonna University 2020 Commerce Objective / Multiple Choice
Question 1 POST_UTME_MADONNA_UNIVERSITY • 2020 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because

Answer Options

Correct Answer A. Firms are willing to supply more of the good as its price increases.
B. Firms are willing to supply less of the good as its price increases.
C. Firms are willing to supply the same quantity of the good regardless of its price.
D. Firms are willing to supply more of the good as its price decreases.
Correct Answer
A
Correct Option:
Firms are willing to supply more of the good as its price increases.

About This Question

This is Post Utme Madonna University 2020 Commerce Question 1. It is one of the objective questions from the 2020 Post Utme Madonna University Commerce examination.

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