Post Utme Rsu 2017 Economics Question 26

Practice objective / multiple choice question 26 from the 2017 Post Utme Rsu Economics examination.

Post Utme Rsu 2017 Economics Objective / Multiple Choice
Question 26 POST_UTME_RSU • 2017 • ECONOMICS • objective

Consider a perfectly competitive market with a large number of firms producing a homogeneous product. If the market price falls, what will happen to the quantity supplied by each firm?

Answer Options

Correct Answer A. The quantity supplied will increase
B. The quantity supplied will decrease
C. The quantity supplied will remain the same
D. The quantity supplied will be unaffected
Correct Answer
A
Correct Option:
The quantity supplied will increase

About This Question

This is Post Utme Rsu 2017 Economics Question 26. It is one of the objective questions from the 2017 Post Utme Rsu Economics examination.

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