Post Utme Ims U 2022 Commerce Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Ims U Commerce examination.

Post Utme Ims U 2022 Commerce Objective / Multiple Choice
Question 6 POST_UTME_IMS_U • 2022 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because of the law of increasing marginal opportunity costs. What is the relationship between marginal opportunity costs and the supply curve?

Answer Options

A. Marginal opportunity costs are constant, and the supply curve is horizontal.
Correct Answer B. Marginal opportunity costs are increasing, and the supply curve is upward-sloping.
C. Marginal opportunity costs are decreasing, and the supply curve is downward-sloping.
D. Marginal opportunity costs are irrelevant to the supply curve.
Correct Answer
B
Correct Option:
Marginal opportunity costs are increasing, and the supply curve is upward-sloping.

About This Question

This is Post Utme Ims U 2022 Commerce Question 6. It is one of the objective questions from the 2022 Post Utme Ims U Commerce examination.

View More Post Utme Ims U 2022 Commerce Questions More Post Utme Ims U Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support