Post Utme Summit University 2020 Commerce Question 25

Practice objective / multiple choice question 25 from the 2020 Post Utme Summit University Commerce examination.

Post Utme Summit University 2020 Commerce Objective / Multiple Choice

Question 25 POST_UTME_SUMMIT_UNIVERSITY • 2020 • COMMERCE • objective

A firm's supply curve is given by Q = 2P + 10. If the price of the good increases by 10%, what is the resulting change in output?

Answer Options

A. Output increases by 10%

Correct Answer B. Output increases by 20%

C. Output increases by 30%

D. Output remains unchanged

Correct Answer

Correct Option:

Output increases by 20%

About This Question

This is Post Utme Summit University 2020 Commerce Question 25. It is one of the objective questions from the 2020 Post Utme Summit University Commerce examination.

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