Post Utme Uniben 2017 Economics Question 31

Practice objective / multiple choice question 31 from the 2017 Post Utme Uniben Economics examination.

Post Utme Uniben 2017 Economics Objective / Multiple Choice
Question 31 POST_UTME_UNIBEN • 2017 • ECONOMICS • objective

Consider a firm operating in a perfectly competitive market. If the firm's average total \cost (ATC) curve intersects the average revenue (AR) curve at a point where the ATC curve is downward sloping, what can be concluded about the firm's optimal output level?

Answer Options

A. The firm is producing at its minimum point on the ATC curve.
B. The firm is producing at its maximum point on the ATC curve.
Correct Answer C. The firm is producing at its optimal output level.
D. The firm is producing at a point where the ATC curve is upward sloping.
Correct Answer
C
Correct Option:
The firm is producing at its optimal output level.

About This Question

This is Post Utme Uniben 2017 Economics Question 31. It is one of the objective questions from the 2017 Post Utme Uniben Economics examination.

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