Post Utme Ims U 2021 Economics Question 1

Practice objective / multiple choice question 1 from the 2021 Post Utme Ims U Economics examination.

Post Utme Ims U 2021 Economics Objective / Multiple Choice
Question 1 POST_UTME_IMS_U • 2021 • ECONOMICS • objective

In a perfectly competitive market, what is the relationship between the marginal revenue product of labor (MRP) and the marginal factor \cost (MFC)?

Answer Options

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

About This Question

This is Post Utme Ims U 2021 Economics Question 1. It is one of the objective questions from the 2021 Post Utme Ims U Economics examination.

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