by Sunday | Oct 24 | Economics JAMB
A. make abnormal profits B. suffer losses C. make normal profits D. collude with each other Correct Answer: Option C – make normal profits
by Sunday | Oct 24 | Economics JAMB
A. GNP B. GDP C. NDP D. NNP Correct Answer: Option B = GDP
by Sunday | Oct 24 | Economics JAMB
A. selling price is above the short-run marginal cost B. selling price is below the short-run marginal cost C. average revenue is greater than marginal revenue D. average revenue is less than marginal revenue Correct Answer: Option B – selling price is below the...
by Sunday | Oct 24 | Economics JAMB
A. total cost B. marginal cost C. fixed cost D. variable inputs Correct Answer: Option B – marginal cost
by Sunday | Oct 24 | Economics JAMB
A. law of diminishing returns B. law of returns to scale C. cost of fixed inputs D. cost of variable inputs Correct Answer: Option B – law of returns to scale