Post Utme Esut 2022 Economics Question 40

Practice objective / multiple choice question 40 from the 2022 Post Utme Esut Economics examination.

Post Utme Esut 2022 Economics Objective / Multiple Choice
Question 40 POST_UTME_ESUT • 2022 • ECONOMICS • objective

A firm in Nigeria is producing a good with a total revenue (TR) of ₦100,000 and a total \cost (TC) of ₦80,000. If the firm's profit is ₦20,000, what is the opportunity \cost of producing one more unit?

Answer Options

A. The opportunity \cost is the difference between the total revenue and the total \cost.
B. The opportunity \cost is the difference between the profit and the total \cost.
Correct Answer C. The opportunity \cost is the difference between the total revenue and the profit.
D. The opportunity \cost is the difference between the total \cost and the profit.
Correct Answer
C
Correct Option:
The opportunity \cost is the difference between the total revenue and the profit.

About This Question

This is Post Utme Esut 2022 Economics Question 40. It is one of the objective questions from the 2022 Post Utme Esut Economics examination.

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