Post Utme Oau 2024 Economics Question 8

Practice objective / multiple choice question 8 from the 2024 Post Utme Oau Economics examination.

Post Utme Oau 2024 Economics Objective / Multiple Choice
Question 8 POST_UTME_OAU • 2024 • ECONOMICS • objective

A government imposes a tax on a good, which causes the supply curve to shift to the left. What is the effect on the equilibrium price and quantity?

Answer Options

Correct Answer A. The equilibrium price increases and the equilibrium quantity decreases.
B. The equilibrium price decreases and the equilibrium quantity increases.
C. The equilibrium price remains the same and the equilibrium quantity decreases.
D. The equilibrium price increases and the equilibrium quantity remains the same.
Correct Answer
A
Correct Option:
The equilibrium price increases and the equilibrium quantity decreases.

About This Question

This is Post Utme Oau 2024 Economics Question 8. It is one of the objective questions from the 2024 Post Utme Oau Economics examination.

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