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3281
A constraint on the expansion of a firm is the
  • A. Rate of advertisement
  • B. Level of producers income
  • C. Tastes of the consumers
  • D. Size of the market
View Answer & Discuss JAMB 2006
3282
The price per unit of a commodity to a buyer is the same as the
  • A. Normal profit of the seller
  • B. Average revenue of the seller
  • C. Marginal cost of the commodity
  • D. Marginal revenue of the seller
View Answer & Discuss (3) JAMB 2007
3283
When a firm's average revenue curve is downward-slopping , it's price elasticity of demand will be
  • A. Zero
  • B. Greater than one
  • C. One
  • D. Between zero and infinity
View Answer & Discuss (4) JAMB 2007
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3284
A firm incurs short-run costs when
  • A. It cannot increase prices
  • B. Operation is at its later stages
  • C. Operation is at its early stages
  • D. Some inputs cannot be varied
View Answer & Discuss (3) JAMB 2007
3285
An increase in the marginal cost of production causes
  • A. A downward movement along the supply curve
  • B. A leftward shift of the supply curve
  • C. A rightward shift of the supply curve
  • D. An upward movement along the supply curve
View Answer & Discuss (4) JAMB 2007
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