BECE Pre Vocational Study 2025 Objective — Question 50
Question 50 of 120 from the Basic Education Certificate Examination (Junior WAEC) (BECE) Pre Vocational Study 2025 Objective paper, with the correct answer and a full explanation.
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(Balogun Oil Mill) If the quantity of the palm oil produced increased to 10,000 litres while other factors remain constant, what will be the outcome on the price of the oil in the warehouse? It will
- A. be above the market retail price.
- B. be equal to market retail price.
- C. decrease below ₦250 per litre.Correct
- D. increase above ₦250 per litre.
Explanation
More supply with constant demand lowers price.
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