Post Utme Esut 2021 Commerce Question 11

Practice objective / multiple choice question 11 from the 2021 Post Utme Esut Commerce examination.

Post Utme Esut 2021 Commerce Objective / Multiple Choice
Question 11 POST_UTME_ESUT • 2021 • COMMERCE • objective

In a perfectly competitive market, the supply curve is downward sloping because of the law of increasing marginal opportunity cost. What is the primary reason for this downward slope?

Answer Options

A. The law of diminishing marginal returns
Correct Answer B. The law of increasing marginal opportunity cost
C. The law of supply and demand
D. The law of diminishing marginal utility
Correct Answer
B
Correct Option:
The law of increasing marginal opportunity cost

About This Question

This is Post Utme Esut 2021 Commerce Question 11. It is one of the objective questions from the 2021 Post Utme Esut Commerce examination.

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