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Economics 1991 JAMB Past Questions

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46
The excess profit made by the firm in the short-run is represented by
  • A. ORTZ
  • B. OPVY
  • C. ORTW
  • D. ORSX
View Answer & Discuss (4) JAMB 1991
47
The long-run equilibrium price and quantity for the firm are respectively
  • A. OP,OY
  • B. OR,OZ
  • C. OR,OX
  • D. OQ,OZ
View Answer & Discuss (1) JAMB 1991
48

The value of total output in the economy using the value added approach is

  • A. N57.00
  • B. 37.00
  • C. 20.00
  • D. 15.00
View Answer & Discuss (4) JAMB 1991
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49
In combining inputs x and y, the entrepreneur obtains the maximum output from a given money outlay when
  • A. \( \begin{matrix} P_ x = P _ y \\ MP _ x = MP _ y \end{matrix} \)
  • B. \(\begin{matrix} MP _ x = P _ x \\ MP _ y = P _ y \end{matrix}\)
  • C. P x. MP x = P y. MP y
  • D. P x P y = MP x. MP y
View Answer & Discuss (1) JAMB 1991
50
Which of the following statements must hold if price discrimination is to be possible?
  • A. Elasticities in the various markets must not differ
  • B. The seller must recognise the possibility of resale
  • C. The market must not be separated but integrated
  • D. The markets should be seperable and there should be no resale.
View Answer & Discuss (7) JAMB 1991
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts