Post Utme Noun 2024 Commerce Question 26

Practice objective / multiple choice question 26 from the 2024 Post Utme Noun Commerce examination.

Post Utme Noun 2024 Commerce Objective / Multiple Choice
Question 26 POST_UTME_NOUN • 2024 • COMMERCE • objective

In a perfectly competitive market, the law of diminishing marginal utility leads to a decrease in the marginal revenue product of a firm. What is the likely outcome for the firm's production level?

Answer Options

A. Increase production to maximize profits
Correct Answer B. Decrease production to minimize losses
C. Maintain current production level
D. Increase production to meet increasing demand
Correct Answer
B
Correct Option:
Decrease production to minimize losses

About This Question

This is Post Utme Noun 2024 Commerce Question 26. It is one of the objective questions from the 2024 Post Utme Noun Commerce examination.

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