Economics Past Questions

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2181

If the fixed cost of a firm is 800.00 Naira and it's variable cost is 2,700 Naira while it's total output is 100 units, what is the average cost of the firm?

A. 25 Naira
B. 35 Naira
C. 45 Naira
D. 50 Naira

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2182

Distribution of goods and service is hindered by

A. good road network
B. efficient storage facilities
C. too many middlemen
D. adequate market information

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2183

A movement along the same demand curve either upwards or downwards as a result of change in price implies

A. a chnage in demand
B. a change in quantity demanded
C. an increase in demand
D. a shift in the demand curve to the right

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2184

middlemen in an economy perform the function of

A. distribution
B. exchange
C. Hoarding
D. protector

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2185

one of the factors affecting geographical distribution of population is

A. high birth rate
B. high death rate
C. encouragement of early marriage in the rural area
D. climate conditions of the different parts of the country

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