Post Utme Lead City University 2021 Economics Question 22

Practice objective / multiple choice question 22 from the 2021 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2021 Economics Objective / Multiple Choice
Question 22 POST_UTME_LEAD_CITY_UNIVERSITY • 2021 • ECONOMICS • objective

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

Answer Options

A. The increase in \cost is due to the increase in demand for electricity.
B. The increase in \cost is due to the increase in supply of electricity.
Correct Answer C. The increase in \cost is due to the opportunity \cost of producing electricity through renewable energy sources.
D. The increase in \cost is due to the increase in transportation \costs.
Correct Answer
C
Correct Option:
The increase in \cost is due to the opportunity \cost of producing electricity through renewable energy sources.

About This Question

This is Post Utme Lead City University 2021 Economics Question 22. It is one of the objective questions from the 2021 Post Utme Lead City University Economics examination.

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