Post Utme Eksu 2021 Economics Question 21

Practice objective / multiple choice question 21 from the 2021 Post Utme Eksu Economics examination.

Post Utme Eksu 2021 Economics Objective / Multiple Choice
Question 21 POST_UTME_EKSU • 2021 • ECONOMICS • objective

Consider a firm operating in a perfectly competitive market with a downward-sloping demand curve. If the firm's marginal revenue (MR) is equal to its marginal \cost (MC), what is the optimal quantity of output to produce?

Answer Options

Correct Answer A. The quantity at which MR = MC
B. The quantity at which the demand curve intersects the vertical axis
C. The quantity at which the supply curve intersects the vertical axis
D. The quantity at which the firm's average revenue (AR) equals its average \cost (AC)
Correct Answer
A
Correct Option:
The quantity at which MR = MC

About This Question

This is Post Utme Eksu 2021 Economics Question 21. It is one of the objective questions from the 2021 Post Utme Eksu Economics examination.

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