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Economics 2020 WAEC Past Questions

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
21

The table below shows the total revenue schedule of a firm. Use the information to answer the question that follows

Output (units) 50 60 70 80 90
Total revenue (TR) $ 85 102 119 136 153

What is the unit price of the firm's output

  • A. $10.00
  • B. $2.70
  • C. $2.00
  • D. $1.70
View Answer & Discuss (1) WAEC 2020
22

The table below shows the total revenue schedule of a firm. Use the information to answer the question that follows

Output (units) 50 60 70 80 90
Total revenue (TR) $ 85 102 119 136 153

What is the firm's marginal revenue? 

  • A. $153.00
  • B. $17.00
  • C. $1.70
  • D. $O.80
View Answer & Discuss WAEC 2020
23

 Organization and entrepreneurship are vested in diferrent persons in a

  • A. cooperative society
  • B. sole proprietorship
  • C. partnership
  • D. public company.
View Answer & Discuss (4) WAEC 2020
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24

The public sector in a mixed economy is not always because of

  • A. bureaucratic practice
  • B. the desire to make huge change
  • C. annual planning of activities
  • C. the activities of shareholders
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25

Which function of the wholesaler enables him to stabilize prices? 

  • A. Warehousing goods
  • B. Advertising the goods
  • C. Granting credit to retailers
  • D. Transporting goods 
View Answer & Discuss WAEC 2020
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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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