Question 626:

• JAMB 1982

Full equilibrium under perfect competition requires that?

A. MC =MR and AC =AR
B. MC = MR but AR>AC
C. MR =MC =AR=AC
D. TR>TC
E. MR=MC

Question 627:

• JAMB 1982

Oligopoly means

A. Large number of sellers in the markets
B. Single seller in the market
C. Few sellers in the markets
D. Few buyers in the market
E. Single buyer in the market

Question 628:

• JAMB 1982

Price discrimination can be described profitably by a monopolist when the elasticity of demand for his product is

A. Elastic in both markets
B. Uniltary elastic in both market
C. Inelastic in both markets
D. Elastic in one market and inelastic in the other
E. Unitary elastic in none of the markets

Question 629:

• JAMB 1982

Demand for money for speculative purposes means?

A. Buying goods and services whose prices have risen
B. Keeping money for unforseen expenditure
C. Buying financial assets because of possible gains
D. Buying real estate
E. Keeping money for a rainy day

Question 630:

• JAMB 1982

If the Central Bank intends to increase the money supply through open market operations then it will

A. Sell securities in the open market
B. Buy securities in the open market
C. Issues more currency note
D. Withdraw money supply from the market
E. Print more demand deposit