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Jamb Economics Past Questions and Answers

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Jamb Economics Past Questions

Question 2351:


What is the lowest price the monopolist can charge

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


Question 2352:


The maximum price is

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


Question 2353:


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 2354:


..................... 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 2355:


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

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






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