by Sunday | Oct 30 | Economics JAMB
A. marginal cost be equal to total revenue B. marginal cost and marginal revenue be equal C. costs are mutually determined by buyers and sellers D. the marginal cost curve cuts the total cost curve Correct Answer: Option B – marginal cost and marginal revenue be...
by Sunday | Oct 30 | Economics JAMB
A. slope of the tangent to the curve at any given output B. U-shaped curve cutting the total cost curve at its lowest point C. straight line from the origin to the mid-point of the curve D. straight line cutting the curve at its highest point Correct Answer: Option B...
by Sunday | Oct 30 | Economics JAMB
A. the whole industry B. some sectors of the industry C. external factors D. internal factors Correct Answer: Option C – external factors
by Sunday | Oct 30 | Economics JAMB
In a small scale business, the fixed cost is N5,000, variable cost is N15,000 and the output is 500 units. What will be the unit cost of the goods? A. N400.00 B. N80.00 C. N40.00 D. N20.00 Correct Answer: Option C –...
by Sunday | Oct 30 | Economics JAMB
A. MC = AR = TR B. TC =AR = P C. MC = AR = P D. MC = AR = TC Correct Answer: Option C – MC = AR = P