Post Utme Veritas University 2025 Commerce Question 11

Practice objective / multiple choice question 11 from the 2025 Post Utme Veritas University Commerce examination.

Post Utme Veritas University 2025 Commerce Objective / Multiple Choice
Question 11 POST_UTME_VERITAS_UNIVERSITY • 2025 • COMMERCE • objective

In a perfectly competitive market, what is the relationship between the marginal revenue product of labor and the market wage?

Answer Options

A. The marginal revenue product of labor is greater than the market wage.
B. The marginal revenue product of labor is less than the market wage.
Correct Answer C. The marginal revenue product of labor is equal to the market wage.
D. The marginal revenue product of labor is unrelated to the market wage.
Correct Answer
C
Correct Option:
The marginal revenue product of labor is equal to the market wage.

About This Question

This is Post Utme Veritas University 2025 Commerce Question 11. It is one of the objective questions from the 2025 Post Utme Veritas University Commerce examination.

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