by Sunday | Oct 22 | Economics JAMB
A. minimum points of all short-run average cost curves B. declining points of all short-run average cost curves C. minimum point of only one of the short-run cost curves D. rising points of all short-run average cost curves Correct Answer: Option D – rising...
by Sunday | Oct 22 | Economics JAMB
A. greater than the isocost B. less than the isocost C. tangent to the isocost D. greater than the output Correct Answer: Option C – tangent to the isocost Explanation The firm is in equilibrium at the point where the isoquant curve is tangent to the iso-cost...
by Sunday | Oct 22 | Economics JAMB
A. decreasing returns to scale B. increasing returns to scale C. diminishing returns D. economies of scale Correct Answer: Option B – increasing returns to scale Explanation In the longrun, all production factors are variable (changes) and a firm operating in...
by Sunday | Oct 22 | Economics JAMB
A. ensure that producers’ profits remain high B. guarantee full employment of resources C. allocate resources to most productive uses D. protect the economic interests of government Correct Answer: Option B – guarantee full employment of resources...
by Sunday | Oct 22 | Economics JAMB
A. demand and supply to remain constant B. an increase in quantity supplied C. an increase in supply D. a decrease in quantity supplied Correct Answer: Option B – an increase in quantity supplied Explanation Fixing prices above equilibrium will cause an increase...
by Sunday | Oct 22 | Economics JAMB
A. consumers B. society C. government D. producers Correct Answer: Option A – consumers Explanation The invisible hand is a natural force that self regulates the market economy. An example of an invisible hand is an individual making a decision to buy noodles...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.