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Economics 2000 JAMB Past Questions

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11

External dis-economies of scale result from excessive growth of?

  • A. the whole industry
  • B. some sectors of the industry
  • C. external factors
  • D. internal factors
View Answer & Discuss (3) JAMB 2000
12
If a total cost curve is plotted, marginal cost can be illustrated by the?
  • A. slope of the tangent to the curve at any given output
  • B. U-shaped curve cutting the total cost curve at its lowest point
  • C. straight line from the origin to the mid-point of the curve
  • D. straight line cutting the curve at its highest point
View Answer & Discuss (2) JAMB 2000
13

The short-run equilibrium in a perfectly competitive market requires that?

  • A. marginal cost be equal to total revenue
  • B. marginal cost and marginal revenue be equal
  • C. costs are mutually determined by buyers and sellers
  • D. the marginal cost curve cuts the total cost curve
View Answer & Discuss (4) JAMB 2000
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14

At the point where the marginal revenue of a monopolist is equal to zero, its total revenue will be?

  • A. falling
  • B. rising
  • C. equal to zero
  • D. maximum
View Answer & Discuss (8) JAMB 2000
15
A distinguishing characteristic of cooperative societies is that voting power depends on the?
  • A. number of shares held
  • B. status of the member
  • C. equality of members
  • D. management's decision
View Answer & Discuss JAMB 2000
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