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Thursday, 02 July 2026
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Economics Past Questions and Answers

Economics Questions

Question 3566:
The long run is a period when
  • A Only the variable factors can be altered
  • B All factors become variable
  • C The firm will cease to exist
  • D Only the fixed factors can be altered
View Answer & Explanation
Question 3567:
The necessary condition for a firm to be in equilibrium is that marginal revenue is
  • A Greater than marginal
  • B Equal to marginal
  • C Less than average revenue
  • D Equal to average
View Answer & Explanation
Question 3568:
At which stage of production should a firm shut down? when
  • A AVC=ATC
  • B AVC
  • C AVC>price
  • D AVC=MC
View Answer & Explanation
Question 3569:
Charging different prices for the same commodity is a feature of a
  • A Perfect competition
  • B Commodity market
  • C Monopolistic competition
  • D Monopoly market
View Answer & Explanation
Question 3570:
In a partnership, the conduct of members is guided by
  • A A memorandum of understanding
  • B The article of partnership
  • C An article of association
  • D A partnership constitution
View Answer & Explanation