The concepts of revenue - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2015

Revenue can be expressed as

A. Total Profit made after sales
B. Amount of goods produced
C. Total money realized from sales
D. Amount spent on purchases

Question 3:

• JAMB 1985

When total revenue is at a maximum, marginal revenue is?

A. Constant
B. Negative
C. Zero
D. Positive
E. Maximum

Question 4:

• JAMB 1986

The revenue accruing to the seller of commodity X as a result of a fall in price will

A. Increase `
B. Fall
C. First fall but will increase later
D. Remain unchanged

Question 5:

• JAMB 1993

Given an output of 3 units, the average is

A. N16.00
B. N18.00
C. 20.00
D. 24.00