Break Evenshut Down Analysis In The Various Markets - Economics Jamb Past Questions and Answers

Question 6 :

• JAMB 1991

A market is in disequilibrium if?

A. The quantity purchased is greater than quantity sold
B. The quantity sold differs from the quantity purchased
C. At a lower price, a large quantity is sold
D. The quantity demand differs from the quantity supplied

Question 7 :

• JAMB 2001

A firm's shut-down point is reach when the average revenue fails to cover the?

A. Average variable cost
B. Marginal cost
C. Average total cost
D. Average fixed cost

Question 8 :

• JAMB 2008

The characteristic of entry and exit ensures that firms

A. Earn excess profit
B. Earn normal profit
C. Break-even
D. Expand their operations

Question 9 :

• JAMB 2011

The profit of a monopolist can be eliminated where price equals

A. AFC
B. MC
C. AC
D. AVC

Question 10 :

• JAMB 2013

The profit of a monopolist can be eliminated where price equals

A. AFC
B. MC
C. AC
D. AVC