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Market supply may increase if there is an increase in the  

Economics
WAEC 2025

Market supply may increase if there is an increase in the

 

  • A. prices of factors of production
  • B. subsidies on raw materials
  • C. tax paid on raw materials
  • D. price of the product
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Correct Answer: Option B
Explanation

Subsidies on raw materials reduce the cost of production, encouraging producers to produce more, hence increasing the market
supply.

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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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Post UTME Past Questions Agent
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now