Post Utme Crawford University 2022 Economics Question 31

Practice objective / multiple choice question 31 from the 2022 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2022 Economics Objective / Multiple Choice
Question 31 POST_UTME_CRAWFORD_UNIVERSITY • 2022 • ECONOMICS • objective

The scarcity of land in Nigeria has led to an increase in the price of agricultural land. This has resulted in a decrease in the supply of agricultural products. What is the opportunity \cost of this decrease in supply?

Answer Options

A. The opportunity \cost is the decrease in the supply of agricultural products.
B. The opportunity \cost is the increase in the price of agricultural land.
Correct Answer C. The opportunity \cost is the decrease in the supply of agricultural products and the increase in the price of agricultural land.
D. The opportunity \cost is the increase in the supply of agricultural products.
Correct Answer
C
Correct Option:
The opportunity \cost is the decrease in the supply of agricultural products and the increase in the price of agricultural land.

About This Question

This is Post Utme Crawford University 2022 Economics Question 31. It is one of the objective questions from the 2022 Post Utme Crawford University Economics examination.

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