Post Utme Unilag 2022 Economics Question 12

Practice objective / multiple choice question 12 from the 2022 Post Utme Unilag Economics examination.

Post Utme Unilag 2022 Economics Objective / Multiple Choice

Question 12 POST_UTME_UNILAG • 2022 • ECONOMICS • objective

A firm's supply curve is upward sloping. What is the implication of this shape on the firm's behavior in the market?

Answer Options

A. The firm is a price taker and has no control over the market price.

Correct Answer B. The firm is a price maker and has control over the market price.

C. The firm is a monopolist and has a downward sloping demand curve.

D. The firm is a perfect competitor and has a horizontal supply curve.

Correct Answer

Correct Option:

The firm is a price maker and has control over the market price.

About This Question

This is Post Utme Unilag 2022 Economics Question 12. It is one of the objective questions from the 2022 Post Utme Unilag Economics examination.

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