Post Utme Coal City University 2024 Economics Question 21

Practice objective / multiple choice question 21 from the 2024 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2024 Economics Objective / Multiple Choice
Question 21 POST_UTME_COAL_CITY_UNIVERSITY • 2024 • ECONOMICS • objective

A perfectly competitive firm's supply curve is upward-sloping because of the law of increa\sing \costs. What is the primary reason for this upward-sloping supply curve?

Answer Options

Correct Answer A. The firm's marginal \cost increases as output increases.
B. The firm's average \cost decreases as output increases.
C. The firm's marginal revenue increases as output increases.
D. The firm's fixed \cost decreases as output increases.
Correct Answer
A
Correct Option:
The firm's marginal \cost increases as output increases.

About This Question

This is Post Utme Coal City University 2024 Economics Question 21. It is one of the objective questions from the 2024 Post Utme Coal City University Economics examination.

View More Post Utme Coal City University 2024 Economics Questions More Post Utme Coal City University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support