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Economics Past Questions and Answers

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Waec Economics Questions

Question 486:
WAEC 1999
Per capita income in any West African country is measured by
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  • A Dividing the GNP by total population
  • B Adding the total savings to the GNP
  • C Multiplying the GNP by the total population
  • D Subtracting the GNP fron the GDP
View Answer & Explanation
Question 487:
WAEC 1999
A priority rating of aggregate individuals wants is called
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  • A Scarcity
  • B Choice
  • C A scale of preference
  • D Opportunity cost
View Answer & Explanation
Question 488:
WAEC 1999
Profits can be calculated by
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  • A Subtracting total cost from total revenue
  • B Subtracting average revenue from total cost
  • C Dividing total revenue from total output
  • D Dividing marginal revenue by marginal cost
View Answer & Explanation
Question 489:
WAEC 1999
The marginal revenue curve of a monopolist is
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  • A Upward sloping from the right to left
  • B Downward sloping from left to right
  • C Paralell to the quantity axis
  • D Downward sloping from right to left
View Answer & Explanation
Question 490:
WAEC 1999
when all factor inputs are doubled , the production possibly curve will
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  • A Shift from left to right and return to its orignal position
  • B Shift from left to right
  • C Remain in its former position
  • D Shift from right to left
View Answer & Explanation

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