Search SchoolNGR

Economics Past Questions and Answers

Classroom

Economics Questions

Question 906:

Total revenue is always equal to?

SchoolNGR Classroom

A Marginal revenue multiplied by the quantity sold
B Average revenue plus marginal revenue
C Marginal revenue multiplied by marginal cost
D Average revenue multiplied by the quantity sold

View Answer & Explanation

Question 907:

If prices fall in a perfectly competitive industry, the firms in that industry in the short run will?

SchoolNGR Classroom

A Not decrease in number
B Keep output at the same level but make losses
C Reduce production
D Intensity the advertisement of their products

View Answer & Explanation

Question 908:

Which of the following is TRUE at the quantity of output where Average Cost (AC) per unit has reached its minimum level?

SchoolNGR Classroom

A AVC=FC
B MC=AVC
C MC=AC
D AC=AFC

View Answer & Explanation

Question 909:

In the short run, the monopolistic competitors?

SchoolNGR Classroom

A Always makes profit
B Always incurs a loss
C Always breaks -even
D May close down

View Answer & Explanation

Question 910:

Price leadership is?

SchoolNGR Classroom

A A form of tacit collusion
B Used to explain price rigidity
C Illegal in nigeria
D A form of overt collusion

View Answer & Explanation

Stay Updated

Follow us on:

Subjects