Post Utme Unn 2023 Geography Question 6

Practice objective / multiple choice question 6 from the 2023 Post Utme Unn Geography examination.

Post Utme Unn 2023 Geography Objective / Multiple Choice
Question 6 POST_UTME_UNN • 2023 • GEOGRAPHY • objective

In a perfectly competitive market, the supply curve is upward-sloping because the firm's marginal cost curve lies below its average total cost curve. What is the implication of this relationship on the firm's profit maximization?

Answer Options

A. The firm will produce at the point where MC = ATC.
Correct Answer B. The firm will produce at the point where MR = MC.
C. The firm will produce at the point where P = ATC.
D. The firm will not produce at all.
Correct Answer
B
Correct Option:
The firm will produce at the point where MR = MC.

About This Question

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

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