Post Utme Unn 2021 Economics Question 1

Practice objective / multiple choice question 1 from the 2021 Post Utme Unn Economics examination.

Post Utme Unn 2021 Economics Objective / Multiple Choice
Question 1 POST_UTME_UNN • 2021 • ECONOMICS • objective

Consider a firm operating in a perfectly competitive market. If the firm's marginal revenue (MR) curve intersects its marginal \cost (MC) curve at point E, where MR = MC, and the firm is producing at its profit-maximizing level of output, what is the implication of this intersection point for the firm's short-run supply curve?

Answer Options

A. The firm's short-run supply curve is upward-sloping.
Correct Answer B. The firm's short-run supply curve is horizontal.
C. The firm's short-run supply curve is vertical.
D. The firm's short-run supply curve is downward-sloping.
Correct Answer
B
Correct Option:
The firm's short-run supply curve is horizontal.

About This Question

This is Post Utme Unn 2021 Economics Question 1. It is one of the objective questions from the 2021 Post Utme Unn Economics examination.

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