Post Utme Eksu 2018 Commerce Question 21

Practice objective / multiple choice question 21 from the 2018 Post Utme Eksu Commerce examination.

Post Utme Eksu 2018 Commerce Objective / Multiple Choice
Question 21 POST_UTME_EKSU • 2018 • COMMERCE • objective

In a perfectly competitive market, the law of diminishing marginal utility leads to a decrease in the marginal revenue product of a firm's inputs. What is the likely consequence of this decrease?

Answer Options

A. An increase in the firm's output
Correct Answer B. A decrease in the firm's output
C. No change in the firm's output
D. An increase in the firm's price
Correct Answer
B
Correct Option:
A decrease in the firm's output

About This Question

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

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