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Economics Past Questions and Answers

Economics Questions

Question 3971:
A cost of production that is positively related to output is the
  • A Total fixed cost
  • B Average fioxed cost
  • C Variable cost
  • D Social cost
View Answer & Explanation
Question 3972:
In perfect competition, the average revenue curve of a firm is
  • A Below the marginal revenue curve
  • B Downward sloping
  • C The marginal revenue curve
  • D Convex to the origin
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Question 3973:
Which of the following means of funding a business is very reliable and cheap?
  • A Bank loans
  • B Loans from friends
  • C Plough back profits
  • D Debentures
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Question 3974:
Govermment in most cases influences the location of firms to
  • A Discourage private investors
  • B Ensure equitable distribution
  • C Reduce the cost of production
  • D Make the firms enjoy economies of scale
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Question 3975:
Middlemen are made up of _____________
  • A Manufacturers, wholesalers, and consumers
  • B Manufacturers, wholesalers, and retailers
  • C Wholesalers, retailers and hawkers
  • D Wholesalers, retailers, and consumers
View Answer & Explanation