Post Utme Ui 2021 Economics Question 11

Practice objective / multiple choice question 11 from the 2021 Post Utme Ui Economics examination.

Post Utme Ui 2021 Economics Objective / Multiple Choice
Question 11 POST_UTME_UI • 2021 • ECONOMICS • objective

A firm operating in a perfectly competitive market is said to be in a state of equilibrium when the marginal revenue product of labor equals the marginal factor \cost of labor. What is the opportunity \cost of hiring an additional worker in this scenario?

Answer Options

A. The wage rate of the additional worker
B. The marginal revenue product of the additional worker
C. The marginal factor \cost of the additional worker
Correct Answer D. The opportunity \cost of hiring an additional worker
Correct Answer
D
Correct Option:
The opportunity \cost of hiring an additional worker

About This Question

This is Post Utme Ui 2021 Economics Question 11. It is one of the objective questions from the 2021 Post Utme Ui Economics examination.

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