Post Utme Summit University 2020 Economics Question 7

Practice objective / multiple choice question 7 from the 2020 Post Utme Summit University Economics examination.

Post Utme Summit University 2020 Economics Objective / Multiple Choice
Question 7 POST_UTME_SUMMIT_UNIVERSITY • 2020 • ECONOMICS • objective

A perfectly competitive firm's supply curve is upward-sloping because of the law of increa\sing \costs. What is the name of this law?

Answer Options

A. The Law of Diminishing Returns
Correct Answer B. The Law of Increa\sing Costs
C. The Law of Supply
D. The Law of Demand
Correct Answer
B
Correct Option:
The Law of Increa\sing Costs

About This Question

This is Post Utme Summit University 2020 Economics Question 7. It is one of the objective questions from the 2020 Post Utme Summit University Economics examination.

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