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Economics 2022 JAMB Past Questions

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56

In the long-run, a firm must shut down if its average revenue is

  • A. greater than average cost
  • B. less than average variable cost
  • C. equal to the minimum average revenue is
  • D. equal to the average cost
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57

In the event of bankruptcy, owners of joint-stock companies lose

  • A. their private properties
  • B. both company and private assets
  • C. only the capital invested
  • D. only their dividends
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58

Wholesalers play an important in the distribution of goods and services because they

  • A. are located very close to consumers
  • B. finance both producers and retailers
  • C. pass information on from retailers to consumers
  • D. sell in small units to consumers
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
NECO offline past questions - All questions, answers & explanations in one app 25712
59

If workers at the school canteen cannot sell during the holidays, this is example of

  • A. structural unemployment
  • B. frictional unemployment
  • C. seasonal unemployment
  • D. residual unemployment
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60

Positive check as envisaged by Thomas Malthus can be prevented if

  • A. death rate is reduced
  • B. moral restraint abolished
  • C. more hospitals are built
  • D. there is natural calamities
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
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