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Economics 1993 JAMB Past Questions

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41
The international Bank for Reconstruction and Development is important to developing countries because it?
  • A. gives loans to member countries for legal proceedings
  • B. offers grants and aid for defence
  • C. offers loans to member countries for socio-economics activities
  • D. offers grants and aid to finance luxury projects
View Answer & Discuss JAMB 1993
42
Given an output of 3 units, the average is
  • A. N16.00
  • B. N18.00
  • C. 20.00
  • D. 24.00
View Answer & Discuss (2) JAMB 1993
43

Determine the marginal revenue if the total revenue is 80.00

  • A. 6.00
  • B. 12.00
  • C. 14.00
  • D. 18.00
View Answer & Discuss (4) JAMB 1993
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44
In the diagram, the marginal propensity to consume (MPC) is equal to
  • A. \(\frac{RP}{TP}\)
  • B. \(\frac{TP}{RP}\)
  • C. \(\frac{RT}{RP}\)
  • D. \(\frac{RT}{TP}\)
View Answer & Discuss JAMB 1993
45
In the diagram above, what is the lowest possible price the monopolist could charge and still break even without there being excess demand?
  • A. Pd
  • B. P2
  • C. P3
  • D. P4
View Answer & Discuss (2) JAMB 1993
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