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Economics 1995 JAMB Past Questions

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46
In this table, the marginal product of the 2nd worker and the average product of the 5th worker respectively are
  • A. 23 and 20
  • B. 22 and 19
  • C. 14 and 19
  • D. 11 and 20
View Answer & Discuss (4) JAMB 1995
47
In the diagram above, the total revenue of the monopolist is given by the area
  • A. OQ1MP2
  • B. P4MTP1
  • C. OQ1 TP1
  • D. OQ2SP2
View Answer & Discuss JAMB 1995
48
The diagram above explains the effect of government's imposition of an indirect tax on a good characterized by zero price elasticity of demand. The total tax revenue is represented by
  • A. P1EHPo
  • B. PoHQo0
  • C. P1EQo0O
  • D. P1ED1Po
View Answer & Discuss (1) JAMB 1995
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49
The diagram above explains the effect of government's imposition of an indirect tax on a good characterized by zero price elasticity of demand.The tax imposed is borne
  • A. totally by the consumer
  • B. totally by the producer
  • C. equally by both the consumer and the producer
  • D. by the the government
View Answer & Discuss JAMB 1995
50
Given that TC = TFC + TVC and TR = AR x Q, profit is equal to
  • A. (AR + Q) - TFC
  • B. \(\frac{\text{(TFC + TVC)}}{Q}\)
  • C. (AR x Q) - TC
  • D. \(\frac{\text{(TC x Q)}}{AR}\)
View Answer & Discuss JAMB 1995
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