Post Utme Unilorin 2023 Economics Question 9

Practice objective / multiple choice question 9 from the 2023 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2023 Economics Objective / Multiple Choice

Question 9 POST_UTME_UNILORIN • 2023 • ECONOMICS • objective

A government is considering a tax on a particular good. If the tax is expected to increase the price of the good by 20%, what will happen to the quantity demanded of the good?

Answer Options

A. The quantity demanded will increase by 20%.

Correct Answer B. The quantity demanded will decrease by 20%.

C. The quantity demanded will remain unchanged.

D. The quantity demanded will increase by 10%.

Correct Answer

Correct Option:

The quantity demanded will decrease by 20%.

About This Question

This is Post Utme Unilorin 2023 Economics Question 9. It is one of the objective questions from the 2023 Post Utme Unilorin Economics examination.

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