Post Utme Madonna University 2020 Economics Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Madonna University Economics examination.

Post Utme Madonna University 2020 Economics Objective / Multiple Choice
Question 36 POST_UTME_MADONNA_UNIVERSITY • 2020 • ECONOMICS • objective

In a perfectly competitive market, the supply curve is downward sloping because of the law of increa\sing opportunity \cost. What is the opportunity \cost of producing one more unit of a good?

Answer Options

Correct Answer A. The \cost of producing the next unit of the good
B. The \cost of producing the previous unit of the good
C. The \cost of producing the last unit of the good
D. The \cost of producing the first unit of the good
Correct Answer
A
Correct Option:
The \cost of producing the next unit of the good

About This Question

This is Post Utme Madonna University 2020 Economics Question 36. It is one of the objective questions from the 2020 Post Utme Madonna University Economics examination.

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