Post Utme Unilorin 2023 Economics Question 6

Practice objective / multiple choice question 6 from the 2023 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2023 Economics Objective / Multiple Choice
Question 6 POST_UTME_UNILORIN • 2023 • ECONOMICS • objective

A firm is operating on a long-run average \cost curve. If the firm experiences a decrease in the price of a key input, what will happen to its long-run average \cost curve?

Answer Options

A. The long-run average \cost curve will shift to the left.
Correct Answer B. The long-run average \cost curve will shift to the right.
C. The long-run average \cost curve will remain unchanged.
D. The long-run average \cost curve will shift upwards.
Correct Answer
B
Correct Option:
The long-run average \cost curve will shift to the right.

About This Question

This is Post Utme Unilorin 2023 Economics Question 6. It is one of the objective questions from the 2023 Post Utme Unilorin Economics examination.

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