Post Utme Delsu 2025 Economics Question 11

Practice objective / multiple choice question 11 from the 2025 Post Utme Delsu Economics examination.

Post Utme Delsu 2025 Economics Objective / Multiple Choice
Question 11 POST_UTME_DELSU • 2025 • ECONOMICS • objective

A perfectly competitive market is characterized by a large number of firms producing a homogeneous product, and each firm has complete knowledge of market conditions. Which of the following is a consequence of this market structure?

Answer Options

A. Each firm produces at the minimum point of its average total \cost curve.
Correct Answer B. Each firm produces at the point where its marginal revenue equals its marginal \cost.
C. Each firm produces at the point where its average revenue equals its average \cost.
D. Each firm produces at the point where its marginal revenue equals its average \cost.
Correct Answer
B
Correct Option:
Each firm produces at the point where its marginal revenue equals its marginal \cost.

About This Question

This is Post Utme Delsu 2025 Economics Question 11. It is one of the objective questions from the 2025 Post Utme Delsu Economics examination.

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