Post Utme Eksu 2018 Economics Question 7

Practice objective / multiple choice question 7 from the 2018 Post Utme Eksu Economics examination.

Post Utme Eksu 2018 Economics Objective / Multiple Choice
Question 7 POST_UTME_EKSU • 2018 • ECONOMICS • objective

The supply curve of a firm is upward-sloping because the firm is a price-taker in the market. Which of the following is a correct statement regarding the relationship between the supply curve and the marginal \cost curve?

Answer Options

A. The supply curve is a horizontal line that intersects the marginal \cost curve at the equilibrium price.
B. The supply curve is a vertical line that intersects the marginal \cost curve at the equilibrium quantity.
Correct Answer C. The supply curve is upward-sloping because the marginal \cost curve is downward-sloping.
D. The supply curve is downward-sloping because the marginal \cost curve is upward-sloping.
Correct Answer
C
Correct Option:
The supply curve is upward-sloping because the marginal \cost curve is downward-sloping.

About This Question

This is Post Utme Eksu 2018 Economics Question 7. It is one of the objective questions from the 2018 Post Utme Eksu Economics examination.

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