Post Utme Skyline University 2024 Commerce Question 16

Practice objective / multiple choice question 16 from the 2024 Post Utme Skyline University Commerce examination.

Post Utme Skyline University 2024 Commerce Objective / Multiple Choice
Question 16 POST_UTME_SKYLINE_UNIVERSITY • 2024 • COMMERCE • objective

In a perfectly competitive market, the law of diminishing marginal utility leads to a decrease in the marginal revenue product of a firm's inputs. What is the likely outcome for the firm's production level?

Answer Options

A. Increase in production level
Correct Answer B. Decrease in production level
C. No change in production level
D. Increase in price
Correct Answer
B
Correct Option:
Decrease in production level

About This Question

This is Post Utme Skyline University 2024 Commerce Question 16. It is one of the objective questions from the 2024 Post Utme Skyline University Commerce examination.

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