Post Utme Noun 2021 Commerce Question 37

Practice objective / multiple choice question 37 from the 2021 Post Utme Noun Commerce examination.

Post Utme Noun 2021 Commerce Objective / Multiple Choice

Question 37 POST_UTME_NOUN • 2021 • COMMERCE • objective

In a perfectly competitive market, firms produce at the point where their marginal cost equals their marginal revenue. What is the implication of this for the firm's profit-maximizing output?

A. The firm will produce at a level where its average cost is minimized.

B. The firm will produce at a level where its marginal cost equals its average revenue.

Correct Answer C. The firm will produce at a level where its marginal cost equals its marginal revenue.

D. The firm will produce at a level where its average revenue is maximized.

Correct Answer

Correct Option:

The firm will produce at a level where its marginal cost equals its marginal revenue.

This is Post Utme Noun 2021 Commerce Question 37. It is one of the objective questions from the 2021 Post Utme Noun Commerce examination.

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