JAMB Theory of Costs and Revenue Economics Past Questions, Answers & Explanations - Economics

Jamb Economics Questions - Theory of Costs and Revenue

Question 6:

Whether a monopolist is able to increase his revenue by restricting his output depends on the shape of the_________

Question 7:

The main concern of economists is to________-

Question 8:

The expression of cost in terms of alternative forgone is referred to as ____?

Question 9:

No of Men	1	2	3	4	5	6	7	8
Total Product(unit)	200	440	540	600	640	660	660	640

If the price per unit is N2, what is the average revenue when 6 men are employed?

Question 10:

The current stage of the economy is depicted in curve I. The movement of curve I to II suggests___________

A An Improvement in capital goods technology but not In consumer goods technology
B A movement from unemployment to full employment
C That the output for the society has declined
D A gain in consumer goods technique and not in capital goods technique