Post Utme Nile University 2021 Commerce Question 12

Practice objective / multiple choice question 12 from the 2021 Post Utme Nile University Commerce examination.

Post Utme Nile University 2021 Commerce Objective / Multiple Choice
Question 12 POST_UTME_NILE_UNIVERSITY • 2021 • COMMERCE • objective
Post Utme Nile University 2021 Commerce Question 12 diagram

The diagram below represents a supply and demand curve for a particular commodity. What is the effect of an increase in consumer income on the equilibrium price and quantity?

Answer Options

A. Price increases and quantity decreases
Correct Answer B. Price decreases and quantity increases
C. Price increases and quantity increases
D. Price decreases and quantity decreases
Correct Answer
B
Correct Option:
Price decreases and quantity increases

About This Question

This is Post Utme Nile University 2021 Commerce Question 12. It is one of the objective questions from the 2021 Post Utme Nile University Commerce examination.

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