Post Utme Greenfield University 2017 Economics Question 1

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

Post Utme Greenfield University 2017 Economics Objective / Multiple Choice
Question 1 POST_UTME_GREENFIELD_UNIVERSITY • 2017 • ECONOMICS • objective

Consider a firm operating in a perfectly competitive market. If the firm's average total \cost (ATC) curve intersects the average revenue (AR) curve at a point where the firm is producing at its optimal level of output, what can be concluded about the firm's profit-maximizing output level?

Answer Options

A. The firm is producing at its minimum point on the ATC curve.
B. The firm is producing at its maximum point on the ATC curve.
Correct Answer C. The firm is producing at its optimal level of output.
D. The firm is producing at its minimum point on the AR curve.
Correct Answer
C
Correct Option:
The firm is producing at its optimal level of output.

About This Question

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

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