Post Utme Uniosun 2017 Commerce Question 21

Practice objective / multiple choice question 21 from the 2017 Post Utme Uniosun Commerce examination.

Post Utme Uniosun 2017 Commerce Objective / Multiple Choice
Question 21 POST_UTME_UNIOSUN • 2017 • COMMERCE • objective

In a perfectly competitive market, the supply curve is downward-sloping because of the law of increasing marginal opportunity cost. What is the primary reason for this downward-sloping supply curve?

Answer Options

Correct Answer A. The law of increasing marginal opportunity cost
B. The law of diminishing marginal returns
C. The law of supply and demand
D. The law of diminishing marginal utility
Correct Answer
A
Correct Option:
The law of increasing marginal opportunity cost

About This Question

This is Post Utme Uniosun 2017 Commerce Question 21. It is one of the objective questions from the 2017 Post Utme Uniosun Commerce examination.

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