Post Utme Noun 2023 Economics Question 38

Practice objective / multiple choice question 38 from the 2023 Post Utme Noun Economics examination.

Post Utme Noun 2023 Economics Objective / Multiple Choice
Question 38 POST_UTME_NOUN • 2023 • ECONOMICS • objective

A firm is operating on the supply curve. If the firm experiences a 20% increase in demand, what will be the effect on the firm's price?

Answer Options

Correct Answer A. The price will increase.
B. The price will decrease.
C. The price will remain unchanged.
D. The price will shift downwards.
Correct Answer
A
Correct Option:
The price will increase.

About This Question

This is Post Utme Noun 2023 Economics Question 38. It is one of the objective questions from the 2023 Post Utme Noun Economics examination.

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