Question 281:

• JAMB 2015

In a situation where Mux represent the marginal utility of product X while Px represent the price respectively. Utility can be maximized when

A. MUX = MUA
B. MUX = PX
C. PX = X
D. PX = PY

Question 282:

• JAMB 2015

Which of the following could be used to measure the efficiency of labour?

A. Rate of inflation
B. Input-output ratio
C. Buying more machines
D. Unemployment rate

Question 283:

• JAMB 2015

How can a firm benefit from external economies?

A. Increasing its expenditure on advertising
B. Increasing the workforce
C. Locating in an area in which the industry is already established
D. Merging with another domestic firm engaged in the same industry

Question 284:

• JAMB 2015

Disposable income is total income

A. Less tax
B. Divided by tax
C. Plus tax
D. Multiplied by tax

Question 285:

• JAMB 2015

In which of the following economic systems do we have the means of production and exchange controlled by private individuals

A. Socialist system
B. Mixed system
C. Capitalist system
D. Traditional system