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Economics 1986 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
21
A producer sustains a loss in the short run if
  • A. marfinal revenue is less than price
  • B. price is less than average cost
  • C. average variable cost is less than average cost
  • D. marginal cost is less than marginal revenue
View Answer & Discuss JAMB 1986
22
A monopolist will practice price discrimination in two markets if?
  • A. the cost of separating the markets is large
  • B. the markets have different elasticities of demand
  • C. there is free flow of information in the two markets
  • D. there is a patent of the commodity
View Answer & Discuss JAMB 1986
23
In the normal channels of distribution the breaking of bulk is performed by the
  • A. producer
  • B. wholesaler
  • C. retailer
  • D. consumer
View Answer & Discuss (1) JAMB 1986
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24
The most important advantage of co-operative societies is?
  • A. their high degree of democracy
  • B. the increase inthe cost of marketing
  • C. that member are encouraged to save money
  • D. the possibility of raising loans for the members
View Answer & Discuss (3) JAMB 1986
25
In a public company, shares are?
  • A. sold to one person only
  • B. distributed freely
  • C. advertised to members of the public for subscription
  • D. disposed by the Chief Executive
View Answer & Discuss JAMB 1986
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