Post Utme Rsu 2017 Commerce Question 31

Practice objective / multiple choice question 31 from the 2017 Post Utme Rsu Commerce examination.

Post Utme Rsu 2017 Commerce Objective / Multiple Choice
Question 31 POST_UTME_RSU • 2017 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because of the law of increasing opportunity costs. What is the opportunity cost of producing one more unit of a good in a perfectly competitive market?

Answer Options

A. The opportunity cost is the price of the good.
B. The opportunity cost is the price of the good plus the marginal cost.
Correct Answer C. The opportunity cost is the price of the good minus the marginal cost.
D. The opportunity cost is the price of the good plus the marginal revenue.
Correct Answer
C
Correct Option:
The opportunity cost is the price of the good minus the marginal cost.

About This Question

This is Post Utme Rsu 2017 Commerce Question 31. It is one of the objective questions from the 2017 Post Utme Rsu Commerce examination.

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