Economics 1998 JAMB Past Questions

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What is the average total cost when output is 200 units in the table above is

A. N1.00
B. N2.0
C. N1.20
D. N2.40

View Answer & Discuss (1) JAMB 1998

In the diagram above, the price P₂ in price control situation, is referred to as

A. minimum price
B. markup price
C. maximum price
D. mark-down price

View Answer & Discuss (8) JAMB 1998

The shaded triangle in the diagram above is known as

A. excess supply
B. consumer surplus
C. excess consumption
D. producer surplus

View Answer & Discuss (1) JAMB 1998

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In the diagram above, D_oD_o is the original demand curve, S_oS_o is the original supply curve, D₁D₁ is the new demand curve. What is the new equilibrium quantity?

A. Q₁
B. Q₂
C. Q₃
D. Q₄

View Answer & Discuss JAMB 1998

In the diagram above, profit is maximized at 1 he output level

A. ON
B. OK
C. OL
D. OF

View Answer & Discuss JAMB 1998

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Economics 1998 JAMB Past Questions

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