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4636

If a firm retrenches some of its factory workers its

  • A. average fixed cost may increase
  • B. variable cost will decline
  • C. marginal cost may increase
  • D. fixed cost is likely to increase
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4637

Many workers are employed in the agricultural sector of developing countries because

  • A. labour intensive method is mostly adopted
  • B. abnormal profits are made
  • C. wages in the sector is high
  • D. they practice mechanized system of farming
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4638

Taxes levied on goods and services by government are called

  • A. indirect taxes
  • B. direct taxes
  • C. coporate taxes
  • D. poll taxes
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4639

The average revenue curve of a firm in a perfect market is the same as the

  • A. supply curve of the firm
  • B. average cost curve of the firm
  • C. demand curve of the firm
  • D. total revenue curve of the firm
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4640

The most liquid asset among the following is

  • A. bonds
  • A. cheque
  • C. cash
  • D. shares
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WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Download WAEC May/June App - Get all past questions and answers, 100% offline - 43208
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts