Post Utme Unn 2017 Economics Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Unn Economics examination.

Post Utme Unn 2017 Economics Objective / Multiple Choice
Question 1 POST_UTME_UNN • 2017 • ECONOMICS • objective

A firm operating in a perfectly competitive market is said to be in a state of equilibrium when the marginal revenue equals the marginal \cost. What is the opportunity \cost of producing one more unit of the good?

Answer Options

A. The opportunity \cost is the price of the good.
B. The opportunity \cost is the marginal revenue.
Correct Answer C. The opportunity \cost is the marginal \cost.
D. The opportunity \cost is the price of the good plus the marginal revenue.
Correct Answer
C
Correct Option:
The opportunity \cost is the marginal \cost.

About This Question

This is Post Utme Unn 2017 Economics Question 1. It is one of the objective questions from the 2017 Post Utme Unn Economics examination.

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