Post Utme Ksu 2022 Commerce Question 16

Practice objective / multiple choice question 16 from the 2022 Post Utme Ksu Commerce examination.

Post Utme Ksu 2022 Commerce Objective / Multiple Choice
Question 16 POST_UTME_KSU • 2022 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because of the law of increasing marginal opportunity cost. What is the primary reason for this upward-sloping supply curve?

Answer Options

A. The law of diminishing marginal returns
Correct Answer B. The law of increasing marginal opportunity cost
C. The law of supply and demand
D. The law of diminishing marginal utility
Correct Answer
B
Correct Option:
The law of increasing marginal opportunity cost

About This Question

This is Post Utme Ksu 2022 Commerce Question 16. It is one of the objective questions from the 2022 Post Utme Ksu Commerce examination.

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