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Tuesday, 07 April 2026
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Economics Past Questions and Answers

Economics Questions

Question 951:
In order to increase its profit margin, the monopolist can manipulate
  • A Both price and output
  • B Either price or output
  • C Only its price
  • D Only its output
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Question 952:
For purely competitive industry, a fundamental requirement of the demand curve faced by individual firms is that it should be?
  • A Downward sloping and price inelastic
  • B Perfectly price elastic
  • C Downward sloping but price inelastic
  • D Perfectly price inelastic
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Question 953:
The merging of firms engage in different stages of production and marketing is called?
  • A External economies of scale
  • B Vertical intergration
  • C Horizontal intergration
  • D Economic unoin
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Question 954:
which of the following is an important function of the retailer?
  • A Grant credit to the wholesaler
  • B Breaks bulk and sales product in small units
  • C Reduces cost of distribution
  • D Generates demand for production through advertisement
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Question 955:
One of the purposes of advertisement in marketing is to?
  • A Change the quality of the product
  • B Raise the quantity of the product demanded as its price falls
  • C Shift the demand curve for the product to the right
  • D Raise production cost
View Answer & Explanation