Post Utme Pan Atlantic University 2020 Economics Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2020 Economics Objective / Multiple Choice

Question 1 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2020 • ECONOMICS • objective

In a perfectly competitive market, what is the relationship between the marginal revenue product (MRP) and the marginal factor \cost (MFC)?

Answer Options

A. MRP > MFC

B. MRP < MFC

Correct Answer C. MRP = MFC

D. MRP is irrelevant to MFC

Correct Answer

Correct Option:

MRP = MFC

About This Question

This is Post Utme Pan Atlantic University 2020 Economics Question 1. It is one of the objective questions from the 2020 Post Utme Pan Atlantic University Economics examination.

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