Post Utme Mountain Top University 2017 Commerce Question 6

Practice objective / multiple choice question 6 from the 2017 Post Utme Mountain Top University Commerce examination.

Post Utme Mountain Top University 2017 Commerce Objective / Multiple Choice
Question 6 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2017 • COMMERCE • objective

In a perfectly competitive market, the supply curve is perfectly elastic. What is the implication of this for the firm's ability to influence the market price?

Answer Options

Correct Answer A. The firm has no ability to influence the market price.
B. The firm has a significant ability to influence the market price.
C. The firm can influence the market price, but only in the short run.
D. The firm can influence the market price, but only in the long run.
Correct Answer
A
Correct Option:
The firm has no ability to influence the market price.

About This Question

This is Post Utme Mountain Top University 2017 Commerce Question 6. It is one of the objective questions from the 2017 Post Utme Mountain Top University Commerce examination.

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