Post Utme Rsu 2019 Commerce Question 36

Practice objective / multiple choice question 36 from the 2019 Post Utme Rsu Commerce examination.

Post Utme Rsu 2019 Commerce Objective / Multiple Choice
Question 36 POST_UTME_RSU • 2019 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because of the law of increasing marginal opportunity cost. However, in a monopolistically competitive market, the supply curve is also upward-sloping, but for a different reason. What is the reason for the upward-sloping supply curve in a monopolistically competitive market?

Answer Options

A. The law of increasing marginal opportunity cost
Correct Answer B. The presence of advertising and product differentiation
C. The presence of barriers to entry
D. The presence of a single seller
Correct Answer
B
Correct Option:
The presence of advertising and product differentiation

About This Question

This is Post Utme Rsu 2019 Commerce Question 36. It is one of the objective questions from the 2019 Post Utme Rsu Commerce examination.

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