Post Utme Rhema University 2017 Economics Question 29

Practice objective / multiple choice question 29 from the 2017 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2017 Economics Objective / Multiple Choice
Question 29 POST_UTME_RHEMA_UNIVERSITY • 2017 • ECONOMICS • objective

Consider a perfectly competitive market with a downward-sloping demand curve. If the market price increases, what will happen to the quantity supplied?

Answer Options

A. Quantity supplied will increase
Correct Answer B. Quantity supplied will decrease
C. Quantity supplied will remain unchanged
D. Quantity supplied will increase, but at a slower rate
Correct Answer
B
Correct Option:
Quantity supplied will decrease

About This Question

This is Post Utme Rhema University 2017 Economics Question 29. It is one of the objective questions from the 2017 Post Utme Rhema University Economics examination.

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