Post Utme Greenfield University 2017 Commerce Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Greenfield University Commerce examination.

Post Utme Greenfield University 2017 Commerce Objective / Multiple Choice
Question 1 POST_UTME_GREENFIELD_UNIVERSITY • 2017 • COMMERCE • objective

In a perfectly competitive market, the supply curve is typically represented by the marginal cost curve. What is the relationship between the marginal revenue product of labor (MRPL) and the marginal factor cost (MFC) in the short run?

Answer Options

Correct Answer A. MRPL > MFC
B. MRPL < MFC
C. MRPL = MFC
D. MRPL and MFC are unrelated
Correct Answer
A
Correct Option:
MRPL > MFC

About This Question

This is Post Utme Greenfield University 2017 Commerce Question 1. It is one of the objective questions from the 2017 Post Utme Greenfield University Commerce examination.

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