Jamb Economics Past Questions For Year 1998
Question 6
In the diagram above, profit is maximized at 1 he output level
- A. ON
- B. OK
- C. OL
- D. OF
Question 7
In the diagram above, DoDo is the original demand curve, SoSo is the original supply curve, D1D1 is the new demand curve. What is the new equilibrium quantity?
- A. Q1
- B. Q2
- C. Q3
- D. Q4
Question 8
The shaded triangle in the diagram above is known as
- A. excess supply
- B. consumer surplus
- C. excess consumption
- D. producer surplus
Question 9
In the diagram above, the price P2 in price control situation, is referred to as
- A. minimum price
- B. markup price
- C. maximum price
- D. mark-down price
Question 10
Given that
B = Births
D = Death
X = Emigrants
M = Immigration
The population of a country over a period of time will rise if?
- A. B = D and X > M
- B. B - D = O and M > X
- C. D - B = O and M = X
- D. X > M and D > B
