Economics 2005 JAMB Past Questions

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Find the mean price of the distribution

A. N54
B. N51
C. N56
D. N59

View Answer & Discuss (9) JAMB 2005

The difference in each country's total output on specification is

A. 16000 units
B. 9000 units
C. 8000 units
D. 7000 units

View Answer & Discuss (2) JAMB 2005

A profit maximizing monopolist should produce within the range where his demand is

A. Inelastic
B. Elastic
C. Infinitely elastic
D. Unitary elastic

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The savings deposit in a commercial bank is called

A. Capital
B. Fund
C. Near
D. Money
E. Call money

View Answer & Discuss (11) JAMB 2005

\(\begin{array}{c|c}
\text{Output(kg)} & 240 & 450 & 580 & 630 \\
\hline
\text{MR(N)} & 75 & 48 & -40 & -22 \\
\hline
\text{MC(N)} & 41& 48 & 77 & 20 \\
\end{array}\)

Given the table above, what is the firm's short - run profit maximizing output?

A. 450kg
B. 630kg
C. 240kg
D. 580kg

View Answer & Discuss (6) JAMB 2005

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Economics 2005 JAMB Past Questions

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