The concepts of revenue - Jamb Economics Past Questions and Answers

Question 6:

• JAMB 1993

Determine the marginal revenue if the total revenue is 80.00

A. 6.00
B. 12.00
C. 14.00
D. 18.00

Question 7:

• JAMB 1994

\(\begin{array}{c|c}
\text{Price N} & \text{Quantity sold} \\
5 & 15 \\
5 & 16 \\
5 & 17 \\
5 & 18 \\
\end{array}\)
Marginal revenue is

A. N5
B. N6
C. N8
D. N10

Question 8:

• JAMB 2004

At the maximum point of the total product curve of a firm, marginal revenue is

A. Decreasing
B. Increasing
C. Constant
D. Zero

Question 9:

• JAMB 2006

If the price per unit is N2, what is the average revenue when 6 men are employed?

A. N220
B. N120
C. 110
D. N330

Question 10:

• JAMB 2007

The price per unit of a commodity to a buyer is the same as the

A. Normal profit of the seller
B. Average revenue of the seller
C. Marginal cost of the commodity
D. Marginal revenue of the seller