Post Utme Christopher University 2019 Economics Question 11

Practice objective / multiple choice question 11 from the 2019 Post Utme Christopher University Economics examination.

Post Utme Christopher University 2019 Economics Objective / Multiple Choice
Question 11 POST_UTME_CHRISTOPHER_UNIVERSITY • 2019 • ECONOMICS • objective

A firm's average \cost curve is U-shaped, and its marginal \cost curve is initially downward sloping and then upward sloping. What is the likely cause of this shape?

Answer Options

A. Increa\sing returns to scale
B. Decrea\sing returns to scale
C. Cons\tant returns to scale
Correct Answer D. Diminishing returns
Correct Answer
D
Correct Option:
Diminishing returns

About This Question

This is Post Utme Christopher University 2019 Economics Question 11. It is one of the objective questions from the 2019 Post Utme Christopher University Economics examination.

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