Marginal Cost And The Supply Curve Of A Firm Jamb Economics Past Questions
Question 11
The most popular sizes of dresses and shoes are determined by the
- A. range
- B. mean
- C. mode
- D. median
Question 12
Which of the following falls continuously as output expands?
- A. Average fixed cost
- B. Marginal cost
- C. Average variable cost
- D. Average cost
Question 13
The value of the multiplier depends on?
- A. MPC and level of income
- B. level of personal income
- C. level of personal savings
- D. government policy and MPC
Question 14
In the long-run, a monopolist maximized his profit when the marginal cost equals?
- A. total revenue
- B. marginal revenue
- C. average revenue
- D. price
Question 15
A firm's shut-down point is reach when the average revenue fails to cover the?
- A. average variable cost
- B. marginal cost
- C. average total cost
- D. average fixed cost
