The Theory of Production - Jamb Economics Past Questions and Answers

Question 106:

• JAMB 1999

The shape of a production possibility frontier is determined by the?

A. Increasing relative costs
B. Returns to scale
C. Diminishing returns to a fixed factor
D. Increasing returns to a variable factor

Question 107:

• JAMB 2000

External dis-economies of scale result from excessive growth of?

A. The whole industry
B. Some sectors of the industry
C. External factors
D. Internal factors

Question 108:

• JAMB 2000

The average product Y is

A. 15.5
B. 14.6
C. 12.0
D. 8.0

Question 109:

• JAMB 2000

The marginal product X is

A. 18
B. 20
C. 24
D. 25

Question 110:

• JAMB 2001

Internal economies of scale are expected to bring about?

A. An increase in short-run average cost
B. An increase in long-run average cost
C. A decrease in long-run average cost
D. A decrease in short-run average cost