Jamb Economics 2023 Past Questions and Answers

Question 46:

• JAMB 2023

What is the lowest price the monopolist can charge

A. P2
B. P1
C. P3
D. P4

Question 47:

• JAMB 2023

The maximum price is

A. P1
B. P2
C. P3
D. P4

Question 48:

• JAMB 2023

Real cost is

A. Alternative commodities forgone
B. Amount of money spent on goods and services
C. Cost of goods and services
D. True cost

Question 49:

• JAMB 2023

..................... is the highest body in ECOWAS organogram

A. Authority of Head of State and Government
B. The Executive Secretariat
C. The Defense Council
D. Council of Ministers

Question 50:

• JAMB 2023

Government uses all of the following ways to redistribute income, except

A. Market intervention
B. Transfer earnings
C. Limited liability
D. Taxation