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866
A market situation with a larger number of firms selling closely related but, differentiated products is
  • A. monopolistic competition
  • B. perfect competition
  • C. monopoly
  • D. monopsony
View Answer & Discuss WAEC 2008
867
equilibrium under perfect competition requires that
  • A. MC = MR but AR < AC
  • B. MR = MC = AR = AC
  • C. AC = AR < MC
  • D. TR < TC
View Answer & Discuss WAEC 2008
868
The purely competitive firm should close down when its price is less than its
  • A. average variable cost
  • B. total fixed cost
  • C. average total cost
  • D. marginal cost
View Answer & Discuss WAEC 2008
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869

During a sale by auction, the price at which the goods finally sold is determined mostly by

  • A. competition between buyers and sellers
  • B. competition among buyers
  • C. competition among sellers
  • D. government policy
View Answer & Discuss WAEC 2008
870
which of the following does not affect a country's population?
  • A. birth rate
  • B. death rate
  • C. Emigration
  • D. unemployment
View Answer & Discuss (2) WAEC 2008
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