Post Utme Coal City University 2024 Commerce Question 1

Practice objective / multiple choice question 1 from the 2024 Post Utme Coal City University Commerce examination.

Post Utme Coal City University 2024 Commerce Objective / Multiple Choice
Question 1 POST_UTME_COAL_CITY_UNIVERSITY • 2024 • COMMERCE • objective

In a perfectly competitive market, what is the relationship between the marginal revenue product of labor (MRPL) and the marginal factor cost of labor (MFC)?

Answer Options

A. MRPL > MFC
B. MRPL < MFC
Correct Answer C. MRPL = MFC
D. MRPL and MFC are unrelated
Correct Answer
C
Correct Option:
MRPL = MFC

About This Question

This is Post Utme Coal City University 2024 Commerce Question 1. It is one of the objective questions from the 2024 Post Utme Coal City University Commerce examination.

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