Post Utme Lead City University 2020 Commerce Question 6

Practice objective / multiple choice question 6 from the 2020 Post Utme Lead City University Commerce examination.

Post Utme Lead City University 2020 Commerce Objective / Multiple Choice

Question 6 POST_UTME_LEAD_CITY_UNIVERSITY • 2020 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because

Answer Options

Correct Answer A. Firms are price-takers and have no market power

B. Firms are price-makers and have market power

C. Firms are risk-averse and want to maximize profits

D. Firms are risk-neutral and want to minimize costs

Correct Answer

Correct Option:

Firms are price-takers and have no market power

About This Question

This is Post Utme Lead City University 2020 Commerce Question 6. It is one of the objective questions from the 2020 Post Utme Lead City University Commerce examination.

View More Post Utme Lead City University 2020 Commerce Questions More Post Utme Lead City University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support