Post Utme Igbinedion University 2022 Geography Question 21

Practice objective / multiple choice question 21 from the 2022 Post Utme Igbinedion University Geography examination.

Post Utme Igbinedion University 2022 Geography Objective / Multiple Choice
Question 21 POST_UTME_IGBINEDION_UNIVERSITY • 2022 • GEOGRAPHY • 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 increasing costs is due to the fixed costs of production.
B. The law of increasing costs is due to the variable costs of production.
C. The law of increasing costs is due to the economies of scale.
Correct Answer D. The law of increasing costs is due to the diseconomies of scale.
Correct Answer
D
Correct Option:
The law of increasing costs is due to the diseconomies of scale.

About This Question

This is Post Utme Igbinedion University 2022 Geography Question 21. It is one of the objective questions from the 2022 Post Utme Igbinedion University Geography examination.

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