Post Utme Uniben 2021 Commerce Question 11

Practice objective / multiple choice question 11 from the 2021 Post Utme Uniben Commerce examination.

Post Utme Uniben 2021 Commerce Objective / Multiple Choice
Question 11 POST_UTME_UNIBEN • 2021 • COMMERCE • objective

In a perfectly competitive market, the law of diminishing marginal utility implies that the demand curve for a firm's product is

Answer Options

A. inelastic
B. elastic
Correct Answer C. unit elastic
D. perfectly inelastic
Correct Answer
C
Correct Option:
unit elastic

About This Question

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

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