Post Utme Lasu 2023 Commerce Question 24

Practice objective / multiple choice question 24 from the 2023 Post Utme Lasu Commerce examination.

Post Utme Lasu 2023 Commerce Objective / Multiple Choice
Question 24 POST_UTME_LASU • 2023 • COMMERCE • objective

In a perfectly competitive market, the supply curve is downward sloping because of the law of increasing marginal opportunity cost. What is the marginal opportunity cost?

Answer Options

A. Marginal Revenue
Correct Answer B. Marginal Cost
C. Average Variable Cost
D. Average Fixed Cost
Correct Answer
B
Correct Option:
Marginal Cost

About This Question

This is Post Utme Lasu 2023 Commerce Question 24. It is one of the objective questions from the 2023 Post Utme Lasu Commerce examination.

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