Post Utme Bowen University 2021 Economics Question 23

Practice objective / multiple choice question 23 from the 2021 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2021 Economics Objective / Multiple Choice
Question 23 POST_UTME_BOWEN_UNIVERSITY • 2021 • ECONOMICS • objective

A firm is producing at the point of diminishing marginal returns. If the firm's marginal \cost (MC) curve is upward sloping, which of the following statements is true?

Answer Options

A. The firm is minimizing \costs.
B. The firm is maximizing profits.
C. The firm is producing at the point of increa\sing marginal returns.
Correct Answer D. The firm is producing at the point of diminishing marginal returns.
Correct Answer
D
Correct Option:
The firm is producing at the point of diminishing marginal returns.

About This Question

This is Post Utme Bowen University 2021 Economics Question 23. It is one of the objective questions from the 2021 Post Utme Bowen University Economics examination.

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