Post Utme Coal City University 2017 Economics Question 26

Practice objective / multiple choice question 26 from the 2017 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2017 Economics Objective / Multiple Choice
Question 26 POST_UTME_COAL_CITY_UNIVERSITY • 2017 • ECONOMICS • objective

The concept of diminishing marginal utility is closely related to the law of increa\sing opportunity \cost. Explain how this relationship affects the production of agricultural commodities in Nigeria.

Answer Options

A. The law of increa\sing opportunity \cost leads to a decrease in the production of agricultural commodities in Nigeria.
Correct Answer B. The concept of diminishing marginal utility causes an increase in the production of agricultural commodities in Nigeria.
C. The relationship between the two concepts leads to a shift in the production of agricultural commodities in Nigeria towards more labor-intensive methods.
D. The law of increa\sing opportunity \cost and the concept of diminishing marginal utility have no impact on the production of agricultural commodities in Nigeria.
Correct Answer
B
Correct Option:
The concept of diminishing marginal utility causes an increase in the production of agricultural commodities in Nigeria.

About This Question

This is Post Utme Coal City University 2017 Economics Question 26. It is one of the objective questions from the 2017 Post Utme Coal City University Economics examination.

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