Post Utme Rhema University 2022 Economics Question 24

Practice objective / multiple choice question 24 from the 2022 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2022 Economics Objective / Multiple Choice
Question 24 POST_UTME_RHEMA_UNIVERSITY • 2022 • ECONOMICS • objective

A country's agricultural sector is characterized by a high degree of monopolistic competition. What is the likely effect of an increase in the price of fertilizers on the agricultural sector?

Answer Options

Correct Answer A. The agricultural sector will experience a decrease in output.
B. The agricultural sector will experience an increase in output.
C. The agricultural sector's output will remain unchanged.
D. The agricultural sector will experience a decrease in employment.
Correct Answer
A
Correct Option:
The agricultural sector will experience a decrease in output.

About This Question

This is Post Utme Rhema University 2022 Economics Question 24. It is one of the objective questions from the 2022 Post Utme Rhema University Economics examination.

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