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Economics 2006 JAMB Past Questions

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36

The marginal productivity theory applies in a

  • A. unionized labour market
  • B. perfectly competitive market
  • C. monopsonistic market only
  • D. monopolistic market only
View Answer & Discuss (3) JAMB 2006
37
A rising short-run average cost is a result of
  • A. economies of scale
  • B. falling marginal costs
  • C. diminishing returns
  • D. rising fixed costs
View Answer & Discuss (2) JAMB 2006
38
The only factor of production that plays an active role in the production process is
  • A. land
  • B. capital
  • C. entrepreneur
  • D. labour
View Answer & Discuss (8) JAMB 2006
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39
The market structure in which there is interdependence of price-output policies is
  • A. a pure monopoly
  • B. an oligopoly
  • C. a pure competition
  • D. a monopolistic competition
View Answer & Discuss (1) JAMB 2006
40
If the short-run cost curve of a firm is U-shaped, the marginal and average cost are equal where the
  • A. average variable cost is minimum
  • B. marginal cost is falling
  • C. average cost is minimum
  • D. average fixed cost is falling
View Answer & Discuss (3) JAMB 2006
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts