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Economics Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
1271
In a perfectly competitive condition, a firm uses 10 units of labour at N25 and 11 units at N36, what is the marginal cost of labour?
  • A. N396
  • B. N323
  • C. N250
  • D. N146
View Answer & Discuss (1) JAMB 2008
1272

The characteristic of entry and exit ensures that firms

  • A. earn excess profit
  • B. earn normal profit
  • C. break-even
  • D. expand their operations
View Answer & Discuss (2) JAMB 2008
1273
Which of the following producer is closest to being a monopolist?
  • A. A baker
  • B. A wheat farmer
  • C. A large chain store
  • D. An automobile plant
View Answer & Discuss JAMB 2008
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1274

The output approach to measuring national income is based on the computation of

  • A. final output
  • B. factor cost
  • C. value added
  • D. profits earned
View Answer & Discuss (2) JAMB 2008
1275

An example of injection into the circular flow of income is

  • A. taxes
  • B. pensions
  • C. imports
  • D. exports
View Answer & Discuss JAMB 2008
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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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