Post Utme Igbinedion University 2023 Economics Question 12

Practice objective / multiple choice question 12 from the 2023 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2023 Economics Objective / Multiple Choice
Question 12 POST_UTME_IGBINEDION_UNIVERSITY • 2023 • ECONOMICS • objective
Post Utme Igbinedion University 2023 Economics Question 12 diagram

A firm is operating in a perfectly competitive market. If the firm's average \cost (AC) curve intersects the demand curve at a point where the quantity supplied is 100 units, what is the implication for the firm's profit-maximizing output?

Answer Options

A. The firm will produce 100 units of output.
Correct Answer B. The firm will produce less than 100 units of output.
C. The firm will produce more than 100 units of output.
D. The firm will produce at the point where MC = MR.
Correct Answer
B
Correct Option:
The firm will produce less than 100 units of output.

About This Question

This is Post Utme Igbinedion University 2023 Economics Question 12. It is one of the objective questions from the 2023 Post Utme Igbinedion University Economics examination.

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