Post Utme Redeemers University 2022 Economics Question 34

Practice objective / multiple choice question 34 from the 2022 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2022 Economics Objective / Multiple Choice
Question 34 POST_UTME_REDEEMERS_UNIVERSITY • 2022 • ECONOMICS • objective

The government of Nigeria has implemented a policy to increase the production of rice through the use of irrigation. However, this policy has led to a decrease in the production of other crops. What is the opportunity \cost of this policy?

Answer Options

A. The decrease in the production of other crops
B. The increase in the production of rice
C. The opportunity \cost is the value of the next best alternative
Correct Answer D. The opportunity \cost is the value of the next best alternative that is given up
Correct Answer
D
Correct Option:
The opportunity \cost is the value of the next best alternative that is given up

About This Question

This is Post Utme Redeemers University 2022 Economics Question 34. It is one of the objective questions from the 2022 Post Utme Redeemers University Economics examination.

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