Post Utme Skyline University 2018 Commerce Question 36

Practice objective / multiple choice question 36 from the 2018 Post Utme Skyline University Commerce examination.

Post Utme Skyline University 2018 Commerce Objective / Multiple Choice
Question 36 POST_UTME_SKYLINE_UNIVERSITY • 2018 • COMMERCE • objective

In a perfectly competitive market, the supply curve is downward-sloping because of the law of increasing marginal opportunity cost. What is the primary reason for this downward-sloping supply curve?

Answer Options

A. The law of diminishing marginal returns
Correct Answer B. The law of increasing marginal opportunity cost
C. The law of supply and demand
D. The law of diminishing marginal utility
Correct Answer
B
Correct Option:
The law of increasing marginal opportunity cost

About This Question

This is Post Utme Skyline University 2018 Commerce Question 36. It is one of the objective questions from the 2018 Post Utme Skyline University Commerce examination.

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