Post Utme Unilorin 2019 Economics Question 12

Practice objective / multiple choice question 12 from the 2019 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2019 Economics Objective / Multiple Choice
Question 12 POST_UTME_UNILORIN • 2019 • ECONOMICS • objective

A monopolistically competitive firm faces a demand curve that is downward sloping and a supply curve that is upward sloping. Which of the following is a characteristic of the firm's short-run equilibrium?

Answer Options

Correct Answer A. The firm is producing at a level of output where price equals marginal revenue
B. The firm is producing at a level of output where price equals marginal \cost
C. The firm is producing at a level of output where price equals average revenue
D. The firm is producing at a level of output where price equals average \cost
Correct Answer
A
Correct Option:
The firm is producing at a level of output where price equals marginal revenue

About This Question

This is Post Utme Unilorin 2019 Economics Question 12. It is one of the objective questions from the 2019 Post Utme Unilorin Economics examination.

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