Post Utme Rhema University 2019 Commerce Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Rhema University Commerce examination.

Post Utme Rhema University 2019 Commerce Objective / Multiple Choice
Question 1 POST_UTME_RHEMA_UNIVERSITY • 2019 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because of the law of increasing marginal opportunity cost. What is the name of this law?

Answer Options

A. Law of Diminishing Marginal Utility
Correct Answer B. Law of Increasing Marginal Opportunity Cost
C. Law of Diminishing Marginal Returns
D. Law of Increasing Marginal Productivity
Correct Answer
B
Correct Option:
Law of Increasing Marginal Opportunity Cost

About This Question

This is Post Utme Rhema University 2019 Commerce Question 1. It is one of the objective questions from the 2019 Post Utme Rhema University Commerce examination.

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