by Sunday | Jan 3 | Economics JAMB
A. increasing returns to scale B. diminishing average returns C. decreasing marginal returns D. decreasing average fixed cost Correct Answer: Option A – increasing returns to scale Explanation A firm’s average cost decreases in the long-run because of the...
by Sunday | Jan 3 | Economics JAMB
A. the consumer is in equilibrium B. more of the commodity can be consumed C. total utility is also equal to its price D. the market is not in equilibrium Correct Answer: Option A – the consumer is in equilibrium Explanation A consumer is in equilibrium when the...
by Sunday | Jan 3 | Economics JAMB
A. the lowest cost of producing goods B. the cost of production of the most efficient firm in an industry C. the cost of production of the most inefficient firm in an industry D. the cost of production of the last or extra unit of goods produced by a firm Correct...
by Sunday | Mar 31 | Economics JAMB
A. Branding B. Storage C. Transport D. Advertising Correct Answer: Option A = Branding
by Sunday | Mar 31 | Economics JAMB
A. Progressive B. Proportional C. Indirect D. Regressive Correct Answer: Option D = Regressive
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