Post Utme Unilorin 2019 Commerce Question 11

Practice objective / multiple choice question 11 from the 2019 Post Utme Unilorin Commerce examination.

Post Utme Unilorin 2019 Commerce Objective / Multiple Choice
Question 11 POST_UTME_UNILORIN • 2019 • COMMERCE • objective

A firm specializes in producing a particular product due to its comparative advantage. What is the opportunity cost of producing this product?

Answer Options

Correct Answer A. The opportunity cost is the next best alternative use of resources.
B. The opportunity cost is the cost of producing the product in another country.
C. The opportunity cost is the cost of producing the product in another industry.
D. The opportunity cost is the cost of producing the product in another firm.
Correct Answer
A
Correct Option:
The opportunity cost is the next best alternative use of resources.

About This Question

This is Post Utme Unilorin 2019 Commerce Question 11. It is one of the objective questions from the 2019 Post Utme Unilorin Commerce examination.

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