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Economics 2014 JAMB Past Questions

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11

Division of labour requires that, the tasks in a production line be performed

  • A. by specialists
  • B. in stages
  • C. by all workers
  • D. by unskilled labourers
View Answer & Discuss (1) JAMB 2014
12

Given that FC = N500, VC = N1,500, and Q = 50 units. Find the average cost of the product.

  • A. N30
  • B. N40
  • C. N10
  • D. N20
View Answer & Discuss (4) JAMB 2014
13

Rent and administrative expenses are examples of

  • A. average fixed costs
  • B. average variable costs
  • C. fixed costs
  • D. variable costs
View Answer & Discuss (6) JAMB 2014
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14
A perfect competitor will continue to expand output up to the point where
  • A. TC > TR
  • B. MR = AR
  • C. MC < MR
  • D. MC > MR
View Answer & Discuss (5) JAMB 2014
15

One of the characteristics of a monopolist is that, he can influence

  • A. quantity produced by other producers
  • B. prices charged by other producers
  • C. both price and quantity
  • D. price or quantity
View Answer & Discuss (8) JAMB 2014
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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