Post Utme Wellspring University 2023 Commerce Question 1

Practice objective / multiple choice question 1 from the 2023 Post Utme Wellspring University Commerce examination.

Post Utme Wellspring University 2023 Commerce Objective / Multiple Choice
Question 1 POST_UTME_WELLSPRING_UNIVERSITY • 2023 • COMMERCE • objective

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

Answer Options

A. Firms can increase production to meet increased demand
B. Firms can decrease production to meet decreased demand
Correct Answer C. Firms can increase production to meet increased demand, but at a higher cost
D. Firms can decrease production to meet decreased demand, but at a lower cost
Correct Answer
C
Correct Option:
Firms can increase production to meet increased demand, but at a higher cost

About This Question

This is Post Utme Wellspring University 2023 Commerce Question 1. It is one of the objective questions from the 2023 Post Utme Wellspring University Commerce examination.

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