Post Utme Caleb University 2021 Economics Question 37

Practice objective / multiple choice question 37 from the 2021 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2021 Economics Objective / Multiple Choice
Question 37 POST_UTME_CALEB_UNIVERSITY • 2021 • ECONOMICS • objective

The concept of production theory implies that the firm's goal is to maximize profits by producing the optimal quantity of goods and services. Which of the following is a characteristic of a perfectly competitive firm?

Answer Options

A. The firm produces the optimal quantity of goods and services.
B. The firm produces the maximum quantity of goods and services.
C. The firm produces the minimum quantity of goods and services.
Correct Answer D. The firm produces the quantity of goods and services that maximizes profits.
Correct Answer
D
Correct Option:
The firm produces the quantity of goods and services that maximizes profits.

About This Question

This is Post Utme Caleb University 2021 Economics Question 37. It is one of the objective questions from the 2021 Post Utme Caleb University Economics examination.

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