Post Utme Abu 2019 Economics Question 26

Practice objective / multiple choice question 26 from the 2019 Post Utme Abu Economics examination.

Post Utme Abu 2019 Economics Objective / Multiple Choice
Question 26 POST_UTME_ABU • 2019 • ECONOMICS • objective

The opportunity \cost of producing one more unit of a good is the value of the next best alternative that must be given up. This concept is closely related to the law of increa\sing opportunity \cost. Which of the following is a correct statement of the law of increa\sing opportunity \cost?

Answer Options

A. As the quantity of a good increases, the opportunity \cost of producing one more unit decreases.
Correct Answer B. As the quantity of a good increases, the opportunity \cost of producing one more unit increases.
C. The opportunity \cost of producing one more unit of a good is cons\tant and does not change with the quantity produced.
D. The opportunity \cost of producing one more unit of a good is zero and does not dep\end on the quantity produced.
Correct Answer
B
Correct Option:
As the quantity of a good increases, the opportunity \cost of producing one more unit increases.

About This Question

This is Post Utme Abu 2019 Economics Question 26. It is one of the objective questions from the 2019 Post Utme Abu Economics examination.

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