Post Utme Futo 2018 Geography Question 21

Practice objective / multiple choice question 21 from the 2018 Post Utme Futo Geography examination.

Post Utme Futo 2018 Geography Objective / Multiple Choice

Question 21 POST_UTME_FUTO • 2018 • GEOGRAPHY • objective

In a perfectly competitive market, the supply curve is typically represented by the marginal cost curve. What is the implication of this relationship on the firm's production decision?

A. The firm will produce at the minimum point of the marginal cost curve.

Correct Answer B. The firm will produce at the point where the marginal cost curve intersects the demand curve.

C. The firm will produce at the maximum point of the marginal cost curve.

D. The firm will not produce at all.

Correct Answer

Correct Option:

The firm will produce at the point where the marginal cost curve intersects the demand curve.

This is Post Utme Futo 2018 Geography Question 21. It is one of the objective questions from the 2018 Post Utme Futo Geography examination.

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