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Economics 2011 JAMB Past Questions

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46

The optimal range of output for a perfectly competitive firm is

  • A. AC is lowest
  • B. AVC is lowest
  • C. MC is rising
  • D. MC is falling
View Answer & Discuss (1) JAMB 2011
47

If real income increases while nominal income remains the same, it can be inferred that

  • A. Unemployment rate has decreased
  • B. General prices has fallen
  • C. Employment rate has risen
  • D. General prices have risen
View Answer & Discuss (4) JAMB 2011
48

The profit of a monopolist can be eliminated where price equals

  • A. AFC
  • B. MC
  • C. AC
  • D. AVC
View Answer & Discuss JAMB 2011
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49

Optimum population enables an economy to attain the highest level of

  • A. Industrial development
  • B. Income per head
  • C. Revenue generation
  • D. Economic development
View Answer & Discuss JAMB 2011
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