Post Utme Madonna University 2023 Commerce Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Madonna University Commerce examination.

Post Utme Madonna University 2023 Commerce Objective / Multiple Choice
Question 16 POST_UTME_MADONNA_UNIVERSITY • 2023 • COMMERCE • objective

In a perfectly competitive market, the law of diminishing marginal utility is most relevant to the production of which of the following goods?

Answer Options

A. Giffen goods
B. Normal goods
Correct Answer C. Inferior goods
D. Veblen goods
Correct Answer
C
Correct Option:
Inferior goods

About This Question

This is Post Utme Madonna University 2023 Commerce Question 16. It is one of the objective questions from the 2023 Post Utme Madonna University Commerce examination.

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