Post Utme Uniosun 2017 Commerce Question 6

Practice objective / multiple choice question 6 from the 2017 Post Utme Uniosun Commerce examination.

Post Utme Uniosun 2017 Commerce Objective / Multiple Choice
Question 6 POST_UTME_UNIOSUN • 2017 • COMMERCE • objective

In a perfectly competitive market, the supply curve is typically represented by the marginal cost curve. What is the implication of this relationship on the firm's profit-maximizing output?

Answer Options

A. The firm will produce at the lowest point on the marginal cost curve.
Correct Answer B. The firm will produce at the point where the marginal cost curve intersects the demand curve.
C. The firm will produce at the point where the marginal cost curve intersects the average variable cost curve.
D. The firm will produce at the point where the marginal cost curve intersects the average fixed cost curve.
Correct Answer
B
Correct Option:
The firm will produce at the point where the marginal cost curve intersects the demand curve.

About This Question

This is Post Utme Uniosun 2017 Commerce Question 6. It is one of the objective questions from the 2017 Post Utme Uniosun Commerce examination.

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