Post Utme Lead City University 2021 Commerce Question 36

Practice objective / multiple choice question 36 from the 2021 Post Utme Lead City University Commerce examination.

Post Utme Lead City University 2021 Commerce Objective / Multiple Choice

Question 36 POST_UTME_LEAD_CITY_UNIVERSITY • 2021 • COMMERCE • objective

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

Answer Options

Correct Answer A. Firm's increasing costs of production

B. Firm's decreasing costs of production

C. Firm's increasing revenue

D. Firm's decreasing revenue

Correct Answer

Correct Option:

Firm's increasing costs of production

About This Question

This is Post Utme Lead City University 2021 Commerce Question 36. It is one of the objective questions from the 2021 Post Utme Lead City University Commerce examination.

View More Post Utme Lead City University 2021 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