by Sunday | Oct 21 | Economics JAMB
A. adjusting both price and output upward B. reducing total output to match price C. increasing price D. reducing price Correct Answer: Option B – reducing total output to match price Explanation A monopolist can determine its profit-maximizing price and...
by Sunday | Oct 21 | Economics JAMB
A. quantity produced by other producers B. prices charged by other producers C. both price and quantity D. price or quantity Correct Answer: Option C – both price and quantity Explanation Monopoly characteristics include profit maximizer, price maker, high...
by Sunday | Oct 21 | Economics JAMB
A. TC > TR B. MR = AR C. MC < MR D. MC > MR Correct Answer: Option C – MC < MR
by Sunday | Oct 21 | Economics JAMB
A. average fixed costs B. average variable costs C. fixed costs D. variable costs Correct Answer: Option C – fixed costs Explanation Examples of general and administrative expenses are: Accounting staff wages and benefits. Building rent. Consulting expenses....
by Sunday | Oct 21 | Economics JAMB
A. by specialists B. in stages C. by all workers D. by unskilled labourers Correct Answer: Option B – in stages Explanation Division of labour: the assignment of different parts of a manufacturing process or task to different people in order to improve...
by Sunday | Oct 21 | Economics JAMB
A. external economies of scale B. external diseconomies of scale C. internal economies of scale D. internal diseconomies of scale Correct Answer: Option C – internal economies of scale Explanation “Internal economies are those economies in production which...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.