by Sunday | Aug 5 | Economics WAEC
A. raise his profit and lower his costs B. discourage buyers from cheating C. determine what he will produce D. set his price to maximize his profit Correct Answer: Option D – set his price to maximize his profit
by Sunday | Aug 5 | Economics WAEC
A. peasant agriculture B. plantation agriculture C. co-operative farming D. subsistence farming Correct Answer: Option D – subsistence farming
by Sunday | Aug 5 | Economics WAEC
A. normal goods B. Giffen goods C. ostentatious goods D. capital goods Correct Answer: Option A – normal goods
by Sunday | Aug 5 | Economics WAEC
A. an increase in the wage rate and an increase in the number of people employed B. a decreased in the wage rate and a decrease in employment C. an increase in the wage rate and a decrease in the employment D. a decrease in the wage rate and an increase in employment...
by Sunday | Aug 5 | Economics WAEC
A. Marginal Cost B. Average Cost C. Total Cost D. Average Cost relative to price in the market Correct Answer: Option D – Average Cost relative to price in the market
by Sunday | Aug 5 | Economics WAEC
A. always reflects the cost of labour B. reflects the variable, but not the fixed cost of production C. does not rise above variable costs D. is determined by the cost of production and the current rate of inflation Correct Answer: Option B – reflects the...