Post Utme Lasu 2023 Economics Question 21

Practice objective / multiple choice question 21 from the 2023 Post Utme Lasu Economics examination.

Post Utme Lasu 2023 Economics Objective / Multiple Choice
Question 21 POST_UTME_LASU • 2023 • ECONOMICS • objective

A firm operates in a perfectly competitive market with a downward-sloping demand curve. If the firm's marginal revenue (MR) is greater than its marginal \cost (MC), what will be the effect on the firm's output?

Answer Options

Correct Answer A. The firm will increase its output.
B. The firm will decrease its output.
C. The firm's output will remain unchanged.
D. The firm will exit the market.
Correct Answer
A
Correct Option:
The firm will increase its output.

About This Question

This is Post Utme Lasu 2023 Economics Question 21. It is one of the objective questions from the 2023 Post Utme Lasu Economics examination.

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