Post Utme Lead City University 2019 Commerce Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Lead City University Commerce examination.

Post Utme Lead City University 2019 Commerce Objective / Multiple Choice
Question 1 POST_UTME_LEAD_CITY_UNIVERSITY • 2019 • COMMERCE • objective

In a perfectly competitive market, the supply curve is determined by the marginal cost curve. What is the relationship between the marginal cost curve and the supply curve?

Answer Options

A. The marginal cost curve is always above the supply curve.
Correct Answer B. The marginal cost curve is always below the supply curve.
C. The marginal cost curve is equal to the supply curve.
D. The marginal cost curve is parallel to the supply curve.
Correct Answer
B
Correct Option:
The marginal cost curve is always below the supply curve.

About This Question

This is Post Utme Lead City University 2019 Commerce Question 1. It is one of the objective questions from the 2019 Post Utme Lead City University Commerce examination.

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