Post Utme Ims U 2021 Geography Question 1

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

Post Utme Ims U 2021 Geography Objective / Multiple Choice
Question 1 POST_UTME_IMS_U • 2021 • GEOGRAPHY • objective

In a perfectly competitive market, what is the relationship between the supply curve and the marginal cost curve?

Answer Options

A. The supply curve is a horizontal line above the marginal cost curve.
B. The supply curve is a horizontal line below the marginal cost curve.
Correct Answer C. The supply curve is a downward-sloping curve that intersects the marginal cost curve at the equilibrium price.
D. The supply curve is a horizontal line that intersects the marginal cost curve at the equilibrium quantity.
Correct Answer
C
Correct Option:
The supply curve is a downward-sloping curve that intersects the marginal cost curve at the equilibrium price.

About This Question

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

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