Post Utme Ui 2020 Economics Question 26

Practice objective / multiple choice question 26 from the 2020 Post Utme Ui Economics examination.

Post Utme Ui 2020 Economics Objective / Multiple Choice

Question 26 POST_UTME_UI • 2020 • ECONOMICS • objective

A perfectly competitive firm's supply curve is upward-sloping because it is a

A. representative firm that maximizes profits by producing at the lowest point on its ATC curve

Correct Answer B. price-taker that adjusts its output in response to changes in market price

C. monopolist that sets its price and quantity to maximize profits

D. perfectly competitive firm that maximizes profits by producing at the lowest point on its ATC curve

Correct Answer

Correct Option:

price-taker that adjusts its output in response to changes in market price

This is Post Utme Ui 2020 Economics Question 26. It is one of the objective questions from the 2020 Post Utme Ui Economics examination.

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