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Economics Past Questions and Answers

Waec Economics Questions

Question 921:

For a monopolist, the average revenue (AR) curve is

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A Above the total curve
B The same as the marginal cost curve
C Above the marginal revenue curve
D The same as that of the perfect competitor

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Question 922:

advertising expenses would not be necessary under perfect competition because

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A Consumers would have complete knowledge of goods
B Cost of production would be at the maximum level
C Every firm would enjoy the benefits of large scale production
D Income of the consumers in the community would be high

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Question 923:

The equilibrium level of output of a monopolist is determined at a point where

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A Marginal cost equals average revenue
B Marginal cost equals acerage cost
C Marginal cost equals marginal revenue
D Marginal revenue equals average cost

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Question 924:

Which of the following is a legal tender in West Africa?

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A Treasury Bill
B Share
C Credit card
D Currency

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Question 925:

The policy of government to increase the supply of money to meet its own expenditure plans is likely to be

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A Speculative
B Deflationary
C Inflationary
D Contractionary

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