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Economics Past Questions and Answers

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Economics Questions

Question 1001:

An imperfect market in which there is only one buyer of a commodity is?

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A Monopsony
B Oligopoly
C Monoploy
D Duopoly

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Question 1002:

The tailoring services is competitive partly because it consists of a large number of?

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A Large-scale enterprises
B Medium scale enterprises
C Small scale enterprises
D Government-owned enterprises

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Question 1003:

Which of the following is applicable to a monopolistic firm operating at the output where marginal cost equals marginal revenue?

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A Cost of production is at a medium
B The plant is of optimum size
C Price is above marginal revenue
D Average variable cost is at a minimum

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Question 1004:

Which of the following is the major function of the wholesaler?

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A Bulk breaking
B Provision of useful information to th manufacturer on products
C Provision of after-sales services to consumers
D Provision of warehouse facility

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Question 1005:

In the distribution channels for goods and services, the middleman's mark-up margin provides a rough measure for the ?

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A Quantity discounts allowed final consumer
B Reward for business enterpreneurship
C Effectiveness of government control over the economy's marketing channels
D Extent of exploitation of the final consumer

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