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Economics Past Questions and Answers

Economics Questions

Question 3946:
In a sole proprietorship, the decisions are made by the ____________
  • A Government
  • B Management
  • C Owner
  • D Board of Directors
View Answer & Explanation
Question 3947:
A firm is at its optimum size when ____________
  • A It has a motive to increase output
  • B It produces the greatest output at a minimum cost
  • C Marginal cost equals marginal revenue
  • D Marginal cost is less than marginal revenue
View Answer & Explanation
Question 3948:
Under the ECOWAS agreement, a Nigerian can enter and stay in Ghana without a Visa for a period of ____________
  • A 100 days
  • B 30 days
  • C 90 days
  • D 14 days
View Answer & Explanation
Question 3949:
The petro-chemical industries are located in Rivers State of Nigeria due to ____________
  • A Coal deposit
  • B Palm oil products
  • C Favourable soil
  • D Oil deposits
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Question 3950:
<table class='tbn'><tbody><tr><td> Units of Quality Consumes </td><td> Total Utility </td><td> Marginal Utility </td></tr><tr> <td> 012345 </td><td> -1015171818 </td><td> -105210 </td></tr></tbody></table><br/><br/><br/>This table illustrates the law of ____________
  • A Increasing returns
  • B Diminishing returns
  • C Diminishing marginal utility
  • D Increasing total utility
View Answer & Explanation