Question 706:

• JAMB 1984

A perfectly competitive firm does not influence the demand for its commodities by lowering its price below the market price because?

A. It is illegal price cutting
B. Other competitors will be angry
C. Total revenue will decline due to its elastic demand curve
D. It is able to sell all it wants at the market price
E. It does not maximize profit

Question 707:

• JAMB 1984

pricing and output decisions of sellers are highly interdependent in markets known as?

A. Oligopoly
B. Perfect competition
C. Monopoly
D. Monopolistic competition
E. Imperfect competititon

Question 708:

• JAMB 1984

One disadvantage of sole proprietorship is its?

A. Limited libility
B. High profits
C. High sense of ownership
D. Low credit rating
E. Low failure rate

Question 709:

• JAMB 1984

The channel for food distribution in Nigeria consist of?

A. Farmers and their families
B. Producers, wholesalers and retailers
C. Producers and consumers
D. Producers and processor
E. Farmers, processors and consumers

Question 710:

• JAMB 1984

Which of the following is NOT true of debentures and debenture holders?

A. Debentures are instruments for rising long-term capital by limited liability companies
B. Debenture are fixed interest-bearing securities with specified maturity dates
C. Debentures holders are creditors to the company and therefore do not share in the risk of the company
D. Debenture holders are entitled to interest payments whether or not profits are made
E. Preference shareholders recieve their share of profits before debenture holders receive their entitlements