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Economics Past Questions and Answers

Economics Questions

Question 3511:
The law of diminishing marginal returns relate to?
  • A Total utility
  • B Average utility
  • C Total product
  • D Marginal utility
View Answer & Explanation
Question 3512:
Total cost is obtain by?
  • A Adding up the marginal cost at each level
  • B Dividing the total cost of output at each level
  • C Adding up the average variable cost at each level
  • D Adding up the total variable cost and total fixed cost
View Answer & Explanation
Question 3513:
By adding all the marginal products at each level of employment of the variable input, we obtain a value equal to
  • A Average product
  • B Total product
  • C Average variable cost
  • D Total cost
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Question 3514:
which of the following curves is not U shaped
  • A Marginal cost curve
  • B Average fixed cost curve
  • C Average total cost curve
  • D Average variable cost
View Answer & Explanation
Question 3515:
which of the following business organisations is likely to experience disagreements between management and shareholders
  • A Co-operative society
  • B Sole trader
  • C Partnership
  • D Joint-stock company
View Answer & Explanation