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Economics 2024 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

Firms in perfect competition break even in the long-run because

  • A. new firms can not enter the market due to copyright laws.
  • B. more firms can enter the industry due to attractive prof its.
  • C. marginal revenue is greater than marginal cost at all levels.
  • D. profits are not enough to repay traders' loans.
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22

The government policy that encourages public corporations to operate profitably is 

  • A. liberalization
  • B. nationalization
  • C. commercialization
  • D. indigenization
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23

Separation of ownership from control is more pronounced in a

  • A. partnership
  • B. joint-stock company
  • C. sole proprietorship
  • D. constimer co- operative society
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24

Warehousing of goods in the process of distribution is the function of

  • A. Supermarkets
  • B. departmental stores
  • C. retailers
  • D. wholesalers
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25

The supply of labour to an occupation will tend to rise when

  • A. there are less monetary benefits.
  • B. holiday entitlement is cut.
  • C. welfare packages improve.
  • D. unemployment benefit rises.
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