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916
A society that operates below the production possibility curve is using its productive resources
  • A. optimally
  • B. efficiently
  • C. inefficiently
  • D. maximally
View Answer & Discuss WAEC 2009
917
labour can be efficient when there are
  • A. adequate tools to work with
  • B. high level of employment
  • C. limited vacancies
  • D. government restrictions
View Answer & Discuss (1) WAEC 2009
918
What accounts for the ‘U-shaped’ of the short run average cost (AC) curve?
  • A. the law of variable proportions
  • B. increasing returns to scale
  • C. decreasing use of inputs
  • D. change output during the production period
View Answer & Discuss WAEC 2009
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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919
which of these is true of a perfect competitor?
  • A. P = AR < MR
  • B. P > AR = MR
  • C. P = MR < AR
  • D. P = AR = MR
View Answer & Discuss WAEC 2009
920
One advantage of a sole proprietor is that
  • A. it can be managed without conflicts
  • B. the sole proprietor raises money from the public
  • C. it makes an increase in the volume of business possible
  • D. there is no limit to the number pf people who may bring in capital
View Answer & Discuss WAEC 2009
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
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