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Economics Past Questions and Answers

Post Utme Economics Questions

Question 186:

Which of the following is an advantage of localization of industry?

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A Development of industrial firm
B Operation of palatial market
C Development slums
D Attraction of foreign capital

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Question 187:

Output Total Revenue (N) Output Total Revenue (N)
1 40
2 49
3 56
4 51
5 65
The marginal revenue when output is 4 units is ____________

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A 5 naira
B 8 naira
C 56 naira
D 61 naira

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Question 188:

The term under population refers to a situation where the population is ____________

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A Dispersed over the country
B Small in relation to available resources
C Greater than the available resources
D Concentrated in a few areas

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Question 189:

Which of the following is necessary for the survival of small firms in West Africa?

SchoolNGR Classroom

A Access to land for development
B Inadequate collateral for banks loan
C Government assistance in the form of loans and tad holidays
D High transportation cost

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Question 190:

Price elasticity of supply measures the responsiveness of quality supplied to ____________

SchoolNGR Classroom

A Changes in supplier’s income
B Changes in prices of other commodities
C A change in the price of the commodity
D A change in the demand for the product

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