Post Utme Summit University 2017 Commerce Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Summit University Commerce examination.

Post Utme Summit University 2017 Commerce Objective / Multiple Choice
Question 11 POST_UTME_SUMMIT_UNIVERSITY • 2017 • 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. decrease
Correct Answer B. increase
C. remain constant
D. become elastic
Correct Answer
B
Correct Option:
increase

About This Question

This is Post Utme Summit University 2017 Commerce Question 11. It is one of the objective questions from the 2017 Post Utme Summit University Commerce examination.

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