2013
Economics
POST UTME
One among the following options is not correct
A.
Any point inside the production possibility curve indicates unemployment or underemployment
B.
Increase in the price of a commodity leads to a fall in the demand for its substitute
C.
The fixing of price above the equilibrium price level leads to surplus of the commodity
D.
An increase in both market supply and market demand may not result in a change in equilibrium price and quantity.
Correct Answer: An increase in both market supply and market demand may not result in a change in equilibrium price and quantity.
Explanation
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