Post Utme Futa 2021 Commerce Question 11

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

Post Utme Futa 2021 Commerce Objective / Multiple Choice
Question 11 POST_UTME_FUTA • 2021 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because of the law of increasing costs. What is the primary reason for this upward-sloping supply curve?

Answer Options

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

About This Question

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

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