Post Utme Summit University 2020 Commerce Question 16

Practice objective / multiple choice question 16 from the 2020 Post Utme Summit University Commerce examination.

Post Utme Summit University 2020 Commerce Objective / Multiple Choice
Question 16 POST_UTME_SUMMIT_UNIVERSITY • 2020 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because

Answer Options

Correct Answer A. Firms are willing to supply more of a good as its price increases.
B. Firms are willing to supply less of a good as its price increases.
C. Firms are willing to supply the same quantity of a good regardless of its price.
D. Firms are willing to supply more of a good as its price decreases.
Correct Answer
A
Correct Option:
Firms are willing to supply more of a good as its price increases.

About This Question

This is Post Utme Summit University 2020 Commerce Question 16. It is one of the objective questions from the 2020 Post Utme Summit University Commerce examination.

View More Post Utme Summit University 2020 Commerce Questions More Post Utme Summit University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support