Jamb Economics Past Questions For Year 1993
Question 6
In the diagram above, what is the lowest possible price the monopolist could charge and still break even without there being excess demand?
- A. Pd
- B. P2
- C. P3
- D. P4
Question 7
In the diagram, the marginal propensity to consume (MPC) is equal to
- A. \(\frac{RP}{TP}\)
- B. \(\frac{TP}{RP}\)
- C. \(\frac{RT}{RP}\)
- D. \(\frac{RT}{TP}\)
Question 8
Determine the marginal revenue if the total revenue is 80.00
- A. 6.00
- B. 12.00
- C. 14.00
- D. 18.00
Question 9
What type of unemployment is revealed by the dotted lines on the graph?
- A. frictional unemployment
- B. Cyclical unemployment
- C. Circular unemployment
- D. Underemployment
Question 10
Which of the following factors is NOT responsible for the rural/urban drift in Nigeria?
- A. The infrastructural facilities in cities
- B. Declining fertility of rural farmlands
- C. Rural electrification programme
- D. Higher living standards in urban areas
