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2961
If the government is interested in raising the highest revenue from a tax system, then for any two commodities
  • A. It is better to tax one whose demand is more elastic
  • B. It is better to tax one whose demand is more inelastic
  • C. Revenue will be the same from both commodities
  • D. It is not possible to say which will yield higher revenue
  • E. Government cannot make much revenue from taxing commodities
View Answer & Discuss JAMB 1980
2962
Which of the following is a correct definition of equilibrium price?
  • A. A price which covers production cost
  • B. A price which maximizes entreprenuer's profits
  • C. A price at which the quantity demanded equals the quantity supplied
  • D. A price at which a competitive firm is at equilibrium
  • E. A price which stabilizes farmer's income
View Answer & Discuss JAMB 1980
2963
If P8 and P9 represent the population of West African in 1978 and 1979 respectively, and given that in 1979.

D= number of deaths, B= number of births, I= number of immigrants, E= number of Emigrants. Then the size of the population in 1979 is given by
  • A. P9 = P8 + D - B = I - E
  • B. P9 = P8 + B - D + I - E
  • C. P9 =P8 + B - D + E - I
  • D. P9 = B - D + I - E
  • E. P9 = P8 + B + D + I + E
View Answer & Discuss JAMB 1981
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2964
A movement along a given demand curve for a good is caused by a change in
  • A. A consumer income
  • B. The price of the good
  • C. Taste
  • D. The prices of other goods
  • E. Population
View Answer & Discuss (1) JAMB 1981
2965
External economies are
  • A. The advantage accuring to a firm as a result of its expansion
  • B. The advantages accuring to one firm as a result of the existence of other firms in the same locality
  • C. Benefits derived by a firm as a result of its own individual policy
  • D. Reaped only by agricultural firms
  • E. Bound to increase the costs of production whatever the circumstances
View Answer & Discuss JAMB 1981
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Post UTME Past Questions Agent
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts