Post Utme Ui 2022 Commerce Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Ui Commerce examination.

Post Utme Ui 2022 Commerce Objective / Multiple Choice

Question 6 POST_UTME_UI • 2022 • COMMERCE • objective

In a perfectly competitive market, the supply curve is upward-sloping because

Correct Answer A. Firms are willing to supply more of the good as its price increases.

B. Firms are willing to supply less of the good as its price increases.

C. The law of diminishing marginal returns causes firms to supply less of the good as its price increases.

D. The law of increasing opportunity costs causes firms to supply more of the good as its price increases.

Correct Answer

Correct Option:

Firms are willing to supply more of the good as its price increases.

This is Post Utme Ui 2022 Commerce Question 6. It is one of the objective questions from the 2022 Post Utme Ui Commerce examination.

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