Post Utme Crawford University 2024 Commerce Question 6

Practice objective / multiple choice question 6 from the 2024 Post Utme Crawford University Commerce examination.

Post Utme Crawford University 2024 Commerce Objective / Multiple Choice
Question 6 POST_UTME_CRAWFORD_UNIVERSITY • 2024 • COMMERCE • objective

A firm's decision to produce a new product involves a trade-off between the costs of production and the potential profits. Which of the following is an example of a cost that the firm should consider when deciding whether to produce the new product?

Answer Options

Correct Answer A. Opportunity cost
B. Fixed cost
C. Variable cost
D. Sunk cost
Correct Answer
A
Correct Option:
Opportunity cost

About This Question

This is Post Utme Crawford University 2024 Commerce Question 6. It is one of the objective questions from the 2024 Post Utme Crawford University Commerce examination.

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