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Economics 1982 JAMB 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
36
Public enterprises are supported on the grounds that they are undertaken for
  • A. increasing profit of the private sector
  • B. reducing the burden of the private sector
  • C. improving the welfare of the people
  • D. earning profit for the people
  • E. earning profit for the government
View Answer & Discuss (1) JAMB 1982
37

\(\begin{array}{c|c}
\text{Unit of output} & \text{Table cost}\\
\hline
1 & 20 \\
2 & 32 \\
3 & 42 \\
4 & 48 \\
5 & 50 \\
\end{array}\)

in the above table, the marginal cost of the 3rd unit of output is

  • A. 12
  • B. 6
  • C. 10
  • D. 2
  • E. 9
View Answer & Discuss (4) JAMB 1982
38

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
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39

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
40
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
Your School's Whatsapp Group - Join Us now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now