Post Utme Delsu 2018 Economics Question 21

Practice objective / multiple choice question 21 from the 2018 Post Utme Delsu Economics examination.

Post Utme Delsu 2018 Economics Objective / Multiple Choice

Question 21 POST_UTME_DELSU • 2018 • ECONOMICS • objective

A firm's supply curve is upward sloping because of the law of increa\sing marginal \cost. What is the opportunity \cost of producing an additional unit of good X?

Correct Answer A. The opportunity \cost is the amount of good Y that must be given up to produce an additional unit of good X.

B. The opportunity \cost is the amount of good X that must be given up to produce an additional unit of good X.

C. The opportunity \cost is the amount of good Y that must be consumed to produce an additional unit of good X.

D. The opportunity \cost is the amount of good X that must be consumed to produce an additional unit of good X.

Correct Answer

Correct Option:

The opportunity \cost is the amount of good Y that must be given up to produce an additional unit of good X.

This is Post Utme Delsu 2018 Economics Question 21. It is one of the objective questions from the 2018 Post Utme Delsu Economics examination.

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