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Economics Past Questions and Answers

Waec Economics Questions

Question 1506:
The necessary condition for a firm to be in equilibrium is that marginal revenue is
  • A Greater than marginal
  • B Equal to marginal
  • C Less than average revenue
  • D Equal to average
View Answer & Explanation
Question 1507:
At which stage of production should a firm shut down? when
  • A AVC=ATC
  • B AVC
  • C AVC>price
  • D AVC=MC
View Answer & Explanation
Question 1508:
Charging different prices for the same commodity is a feature of a
  • A Perfect competition
  • B Commodity market
  • C Monopolistic competition
  • D Monopoly market
View Answer & Explanation
Question 1509:
In a partnership, the conduct of members is guided by
  • A A memorandum of understanding
  • B The article of partnership
  • C An article of association
  • D A partnership constitution
View Answer & Explanation
Question 1510:
Indigenization policy is a measure aimed at
  • A Privating the existing business owned by the state
  • B Commercializing state owned businesses
  • C Reducing foreign economic domination
  • D Making the indegenes managing directors of businesses
View Answer & Explanation