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If the equilibrium price of a certain commodity is N120.00 and the government fixed its...

Economics
JAMB 1993
If the equilibrium price of a certain commodity is N120.00 and the government fixed its price at N110.00, the supply will be?
  • A. greater than the equilibrium supply
  • B. smaller than the equilibrium supply
  • C. the same as the equilibrium supply
  • D. a determinant of the market forces of equilibrium
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Correct Answer: Option B
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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