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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
841
Given that
B = Births
D = Death
X = Emigrants
M = Immigration
The population of a country over a period of time will rise if?
  • A. B = D and X > M
  • B. B - D = O and M > X
  • C. D - B = O and M = X
  • D. X > M and D > B
View Answer & Discuss JAMB 1998
842
The short-run period in production is defined as a period when?
  • A. there is at least one fixed factor
  • B. all costs of production must be covered
  • C. the output cannot be varied
  • D. current output is not profitable
View Answer & Discuss JAMB 1998
843
Specialization often improves economic performance because it?
  • A. permits exploitation of economies of scale
  • B. incorporates external economies
  • C. is based on the law of variable proportions
  • D. allocates resources according to absolute advantage
View Answer & Discuss JAMB 1998
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844
Which of the following statements best describes the relationship between average product and marginal products?
  • A. Marginal product and average product curves rise and falls together
  • B. Marginal product equals average product at the minimum point of the latter
  • C. Average product curve will rise as product is greater than average product
  • D. Marginal product at the maximum point of the fomer
View Answer & Discuss JAMB 1998
845
When a firm is reaping economies of large-scale production, it experiences a fall in its?
  • A. long-run marginal cost
  • B. long-run average cost
  • C. long-run total cost
  • D. short-run marginal cost
View Answer & Discuss JAMB 1998
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts