Post Utme Madonna University 2022 Commerce Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Madonna University Commerce examination.

Post Utme Madonna University 2022 Commerce Objective / Multiple Choice
Question 1 POST_UTME_MADONNA_UNIVERSITY • 2022 • 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

A. The law of increasing costs is due to the fixed costs of production.
B. The law of increasing costs is due to the variable costs of production.
C. The law of increasing costs is due to the economies of scale.
Correct Answer D. The law of increasing costs is due to the diseconomies of scale.
Correct Answer
D
Correct Option:
The law of increasing costs is due to the diseconomies of scale.

About This Question

This is Post Utme Madonna University 2022 Commerce Question 1. It is one of the objective questions from the 2022 Post Utme Madonna University Commerce examination.

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