Post Utme Ui 2021 Economics Question 7

Practice objective / multiple choice question 7 from the 2021 Post Utme Ui Economics examination.

Post Utme Ui 2021 Economics Objective / Multiple Choice

Question 7 POST_UTME_UI • 2021 • ECONOMICS • objective

A firm is producing two goods, X and Y, u\sing two inputs, labor (L) and capital (K). The production functions for X and Y are given by the following equations:

A. The firm is a perfect competitor in both markets.

B. The firm is a monopolist in both markets.

C. The firm is a monopolist in the market for good X but a perfect competitor in the market for good Y.

Correct Answer D. The firm is a perfect competitor in the market for good X but a monopolist in the market for good Y.

Correct Answer

Correct Option:

The firm is a perfect competitor in the market for good X but a monopolist in the market for good Y.

This is Post Utme Ui 2021 Economics Question 7. It is one of the objective questions from the 2021 Post Utme Ui Economics examination.

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