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Economics 2011 Jamb Past Questions and Answers

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Economics 2011 Jamb Past Questions


Question 41 :



From the Diagram above, the optimal point of production is

A. R
B. T
C. U
D. S


Question 42 :



The average total cost when 20 units are produced is

A. N20.00
B. N23.00
C. N13.00
D. N15.00


Question 43 :



When 20 units of output is produced, TC will be

A. N360
B. N300
C. N460
D. N400


Question 44 :



The deflationary gap is defined by

A. X
B. K
C. X + K
D. X - K


Question 45 :



What does X represent?

A. Recessionary gap
B. GNP gap
C. Inflationary gap
D. Deflationary gap






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