Post Utme Ims U 2025 Economics Question 11

Practice objective / multiple choice question 11 from the 2025 Post Utme Ims U Economics examination.

Post Utme Ims U 2025 Economics Objective / Multiple Choice
Question 11 POST_UTME_IMS_U • 2025 • ECONOMICS • objective

The opportunity \cost of producing one more unit of a good is the value of the next best alternative that could have been produced with the same resources. This concept is closely related to the law of increa\sing opportunity \costs, which states that as the production of a good increases, the opportunity \cost of producing one more unit also increases. Which of the following statements is a correct interpretation of the law of increa\sing opportunity \costs?

Answer Options

A. The law of increa\sing opportunity \costs implies that as the production of a good increases, the opportunity \cost of producing one more unit decreases.
B. The law of increa\sing opportunity \costs implies that as the production of a good increases, the opportunity \cost of producing one more unit remains cons\tant.
Correct Answer C. The law of increa\sing opportunity \costs implies that as the production of a good increases, the opportunity \cost of producing one more unit also increases.
D. The law of increa\sing opportunity \costs implies that as the production of a good increases, the opportunity \cost of producing one more unit decreases and then increases.
Correct Answer
C
Correct Option:
The law of increa\sing opportunity \costs implies that as the production of a good increases, the opportunity \cost of producing one more unit also increases.

About This Question

This is Post Utme Ims U 2025 Economics Question 11. It is one of the objective questions from the 2025 Post Utme Ims U Economics examination.

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