Post Utme Achievers University 2019 Commerce Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Achievers University Commerce examination.

Post Utme Achievers University 2019 Commerce Objective / Multiple Choice
Question 1 POST_UTME_ACHIEVERS_UNIVERSITY • 2019 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because of the law of increasing costs. What is the primary reason for this upward-sloping supply curve?

Answer Options

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

About This Question

This is Post Utme Achievers University 2019 Commerce Question 1. It is one of the objective questions from the 2019 Post Utme Achievers University Commerce examination.

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