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216

Full equilibrium under perfect competition requires that?

  • A. MC =MR and AC =AR
  • B. MC = MR but AR>AC
  • C. MR =MC =AR=AC
  • D. TR>TC
  • E. MR=MC
View Answer & Discuss (1) JAMB 1982
217

Oligopoly means

  • A. large number of sellers in the markets
  • B. single seller in the market
  • C. few sellers in the markets
  • D. few buyers in the market
  • E. single buyer in the market
View Answer & Discuss (2) JAMB 1982
218
Price discrimination can be described profitably by a monopolist when the elasticity of demand for his product is
  • A. elastic in both markets
  • B. uniltary elastic in both market
  • C. inelastic in both markets
  • D. elastic in one market and inelastic in the other
  • E. unitary elastic in none of the markets
View Answer & Discuss (4) JAMB 1982
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
219
Demand for money for speculative purposes means?
  • A. buying goods and services whose prices have risen
  • B. keeping money for unforseen expenditure
  • C. buying financial assets because of possible gains
  • D. buying real estate
  • E. keeping money for a rainy day
View Answer & Discuss (1) JAMB 1982
220
If the Central Bank intends to increase the money supply through open market operations then it will
  • A. sell securities in the open market
  • B. buy securities in the open market
  • C. issues more currency note
  • D. withdraw money supply from the market
  • E. print more demand deposit
View Answer & Discuss (3) JAMB 1982
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