Post Utme Futa 2018 Economics Question 4

Practice objective / multiple choice question 4 from the 2018 Post Utme Futa Economics examination.

Post Utme Futa 2018 Economics Objective / Multiple Choice

Question 4 POST_UTME_FUTA • 2018 • ECONOMICS • objective

U\sing the concept of opportunity \cost, explain why a firm may choose to produce a smaller quantity of a product at a higher price rather than a larger quantity at a lower price.

A. The firm values the product's quality over its quantity.

B. The firm is willing to pay a premium for the product's brand reputation.

Correct Answer C. The firm is experiencing opportunity \cost, making the higher price more acceptable.

D. The firm is trying to save money by buying in bulk.

Correct Answer

Correct Option:

The firm is experiencing opportunity \cost, making the higher price more acceptable.

This is Post Utme Futa 2018 Economics Question 4. It is one of the objective questions from the 2018 Post Utme Futa Economics examination.

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