Post Utme Futa 2021 Economics Question 1

Practice objective / multiple choice question 1 from the 2021 Post Utme Futa Economics examination.

Post Utme Futa 2021 Economics Objective / Multiple Choice

Question 1 POST_UTME_FUTA • 2021 • ECONOMICS • objective

A firm operating in a perfectly competitive market is producing at the point where its marginal revenue equals its marginal \cost. What is the implication of this for the firm's profit-maximizing output?

A. The firm is producing at its minimum point on the average total \cost curve.

B. The firm is producing at its maximum point on the average total \cost curve.

C. The firm is producing at the point where its average revenue equals its average \cost.

Correct Answer D. The firm is producing at the point where its marginal revenue equals its marginal \cost.

Correct Answer

Correct Option:

The firm is producing at the point where its marginal revenue equals its marginal \cost.

This is Post Utme Futa 2021 Economics Question 1. It is one of the objective questions from the 2021 Post Utme Futa Economics examination.

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