Post Utme Crawford University 2017 Commerce Question 31

Practice objective / multiple choice question 31 from the 2017 Post Utme Crawford University Commerce examination.

Post Utme Crawford University 2017 Commerce Objective / Multiple Choice
Question 31 POST_UTME_CRAWFORD_UNIVERSITY • 2017 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because of the law of increasing opportunity costs. However, in a perfectly competitive market, the law of increasing opportunity costs is not the primary reason for the upward-sloping supply curve. What is the primary reason?

Answer Options

Correct Answer A. The law of diminishing marginal returns
B. The law of increasing opportunity costs
C. The law of supply and demand
D. The law of market equilibrium
Correct Answer
A
Correct Option:
The law of diminishing marginal returns

About This Question

This is Post Utme Crawford University 2017 Commerce Question 31. It is one of the objective questions from the 2017 Post Utme Crawford University Commerce examination.

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