Post Utme Economics Questions
Question 61:
Which of the following is NOT part of the fixed cost of a firm?
- A Interest on loans
- B Rent on buildings
- C Depreciation reserves
- D Management expenditure
- E Wages
Question 62:
Which of the following is used to describe a payment representing a surplus in excess of transfer earnings?
- A Interest rates
- B Opportunity costs
- C Economic rent
- D Indirect costs
- E Wages
Question 63:
A perfectly competitive firm produces the most profitable output where its
- A Marginal revenue equals average cost
- B Price equals average cost
- C Price equals marginal cost
- D Marginal cost equals marginal revenue
- E Average revenue equals average cost
Question 64:
Advertising is the main technique used for effecting in a monopolistic competition in____
- A Market segmentation
- B Product differentiation
- C Price
- D Profit
- E Supply
Question 65:
Output of a monopolist is usually
determined at a point where
- A P=MC
- B MR=MC
- C AR=AC
- D Marginal cost is rising
- E Marginal revenue is rising