Post Utme Delsu 2018 Economics Question 23

Practice objective / multiple choice question 23 from the 2018 Post Utme Delsu Economics examination.

Post Utme Delsu 2018 Economics Objective / Multiple Choice
Question 23 POST_UTME_DELSU • 2018 • ECONOMICS • objective

A firm's demand curve is downward sloping because of the law of diminishing marginal utility. What is the opportunity \cost of consuming an additional unit of good X?

Answer Options

Correct Answer A. The opportunity \cost is the amount of good Y that must be given up to consume an additional unit of good X.
B. The opportunity \cost is the amount of good X that must be given up to consume an additional unit of good X.
C. The opportunity \cost is the amount of good Y that must be consumed to consume an additional unit of good X.
D. The opportunity \cost is the amount of good X that must be consumed to consume an additional unit of good X.
Correct Answer
A
Correct Option:
The opportunity \cost is the amount of good Y that must be given up to consume an additional unit of good X.

About This Question

This is Post Utme Delsu 2018 Economics Question 23. It is one of the objective questions from the 2018 Post Utme Delsu Economics examination.

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