Jamb Economics 2005 Past Questions and Answers

Question 46:

• JAMB 2005

Applying the law of comparative costs, how many units of groundnuts will Nigeria produce?

A. 7000 units
B. 16000 units
C. 9000 units
D. 8000 units

Question 47:

• JAMB 2005

FIND THE MEAN PRICE OF THE DISTRIBUTION

A. N54
B. N51
C. N56
D. N59

Question 48:

• JAMB 2005

The difference in each country's total output on specification is

A. 16000 units
B. 9000 units
C. 8000 units
D. 7000 units

Question 49:

• JAMB 2005

A profit maximizing monopolist should produce within the range where his demand is

A. Inelastic
B. Elastic
C. Infinitely elastic
D. Unitary elastic

Question 50:

• JAMB 2005

The savings deposit in a commercial bank is called

A. Capital
B. Fund
C. Near
D. Money
E. Call money