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976
A consumer's scale of preference is an arrangement of his?
  • A. scarce resources in order of importance
  • B. needs in order of importance
  • C. sources of income and their importances
  • D. requirements and how to satisfy them
View Answer & Discuss (1) JAMB 2001
977
A firm's shut-down point is reach when the average revenue fails to cover the?
  • A. average variable cost
  • B. marginal cost
  • C. average total cost
  • D. average fixed cost
View Answer & Discuss (5) JAMB 2001
978

Internal economies of scale are expected to bring about?

  • A. an increase in short-run average cost
  • B. an increase in long-run average cost
  • C. a decrease in long-run average cost
  • D. a decrease in short-run average cost
View Answer & Discuss (6) JAMB 2001
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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979
In the long-run, a monopolist maximized his profit when the marginal cost equals?
  • A. total revenue
  • B. marginal revenue
  • C. average revenue
  • D. price
View Answer & Discuss (6) JAMB 2001
980
The long run is a period during which a firm?
  • A. sells inputs to purchase fixed assets
  • B. varies all its inputs
  • C. sources all its inputs from within
  • D. replaces all its inputs
View Answer & Discuss JAMB 2001
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts