Post Utme Summit University 2023 Commerce Question 26

Practice objective / multiple choice question 26 from the 2023 Post Utme Summit University Commerce examination.

Post Utme Summit University 2023 Commerce Objective / Multiple Choice
Question 26 POST_UTME_SUMMIT_UNIVERSITY • 2023 • 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 main reason for this downward slope?

Answer Options

A. Increasing marginal cost
B. Decreasing marginal revenue
Correct Answer C. Increasing marginal opportunity cost
D. Decreasing marginal utility
Correct Answer
C
Correct Option:
Increasing marginal opportunity cost

About This Question

This is Post Utme Summit University 2023 Commerce Question 26. It is one of the objective questions from the 2023 Post Utme Summit University Commerce examination.

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