Post Utme Unilorin 2022 Economics Question 36

Practice objective / multiple choice question 36 from the 2022 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2022 Economics Objective / Multiple Choice
Question 36 POST_UTME_UNILORIN • 2022 • ECONOMICS • objective

A firm operating in a perfectly competitive market produces a homogeneous product. 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 is the likely outcome for the firm's profit?

Answer Options

A. The firm will experience a loss.
Correct Answer B. The firm will experience a profit.
C. The firm's profit will be maximized.
D. The firm's profit will be minimized.
Correct Answer
B
Correct Option:
The firm will experience a profit.

About This Question

This is Post Utme Unilorin 2022 Economics Question 36. It is one of the objective questions from the 2022 Post Utme Unilorin Economics examination.

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