Post Utme Mountain Top University 2021 Commerce Question 11

Practice objective / multiple choice question 11 from the 2021 Post Utme Mountain Top University Commerce examination.

Post Utme Mountain Top University 2021 Commerce Objective / Multiple Choice
Question 11 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2021 • COMMERCE • objective

In a perfectly competitive market, what is the relationship between the marginal revenue product of labor and the marginal factor cost of labor?

Answer Options

A. MRP = MFC
B. MRP > MFC
Correct Answer C. MRP < MFC
D. MRP = AFC
Correct Answer
C
Correct Option:
MRP < MFC

About This Question

This is Post Utme Mountain Top University 2021 Commerce Question 11. It is one of the objective questions from the 2021 Post Utme Mountain Top University Commerce examination.

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