Post Utme Lead City University 2021 Economics Question 20

Practice objective / multiple choice question 20 from the 2021 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2021 Economics Objective / Multiple Choice
Question 20 POST_UTME_LEAD_CITY_UNIVERSITY • 2021 • ECONOMICS • objective

The government of Nigeria has implemented a policy to increase the production of food through the use of fertilizers. However, the policy has led to a significant increase in the price of food. U\sing the concept of opportunity \cost, explain why the price of food has increased.

Answer Options

A. The increase in price is due to the increase in demand for food.
B. The increase in price is due to the increase in supply of food.
Correct Answer C. The increase in price is due to the opportunity \cost of producing food through the use of fertilizers.
D. The increase in price is due to the increase in transportation \costs.
Correct Answer
C
Correct Option:
The increase in price is due to the opportunity \cost of producing food through the use of fertilizers.

About This Question

This is Post Utme Lead City University 2021 Economics Question 20. It is one of the objective questions from the 2021 Post Utme Lead City University Economics examination.

View More Post Utme Lead City University 2021 Economics 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