Post Utme Abu 2025 Commerce Question 1

Practice objective / multiple choice question 1 from the 2025 Post Utme Abu Commerce examination.

Post Utme Abu 2025 Commerce Objective / Multiple Choice
Question 1 POST_UTME_ABU • 2025 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because of the law of increasing opportunity costs. However, this is not the case in a perfectly competitive market. What is the correct reason for the upward-sloping supply curve in a perfectly competitive market?

Answer Options

A. The law of increasing opportunity costs
Correct Answer B. The law of diminishing marginal returns
C. The law of supply and demand
D. The law of diminishing marginal utility
Correct Answer
B
Correct Option:
The law of diminishing marginal returns

About This Question

This is Post Utme Abu 2025 Commerce Question 1. It is one of the objective questions from the 2025 Post Utme Abu Commerce examination.

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