Post Utme Unilag 2023 Economics Question 2

Practice objective / multiple choice question 2 from the 2023 Post Utme Unilag Economics examination.

Post Utme Unilag 2023 Economics Objective / Multiple Choice
Question 2 POST_UTME_UNILAG • 2023 • ECONOMICS • objective
Post Utme Unilag 2023 Economics Question 2 diagram

A perfectly competitive market has a supply curve that is upward sloping. Which of the following is a characteristic of the market?

Answer Options

A. The market is characterized by a downward sloping demand curve.
B. The market is characterized by a horizontal supply curve.
Correct Answer C. The market is characterized by a downward sloping supply curve.
D. The market is characterized by a perfectly inelastic demand curve.
Correct Answer
C
Correct Option:
The market is characterized by a downward sloping supply curve.

About This Question

This is Post Utme Unilag 2023 Economics Question 2. It is one of the objective questions from the 2023 Post Utme Unilag Economics examination.

View More Post Utme Unilag 2023 Economics Questions More Post Utme Unilag 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