Post Utme Rhema University 2024 Commerce Question 11

Practice objective / multiple choice question 11 from the 2024 Post Utme Rhema University Commerce examination.

Post Utme Rhema University 2024 Commerce Objective / Multiple Choice
Question 11 POST_UTME_RHEMA_UNIVERSITY • 2024 • COMMERCE • objective

In a perfectly competitive market, the law of supply states that as the price of a commodity increases, the quantity supplied will

Answer Options

A. increase
Correct Answer B. decrease
C. remain constant
D. become perfectly inelastic
Correct Answer
B
Correct Option:
decrease

About This Question

This is Post Utme Rhema University 2024 Commerce Question 11. It is one of the objective questions from the 2024 Post Utme Rhema University Commerce examination.

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