Producers equilibrium - Jamb Economics Past Questions and Answers

Question 26:

• JAMB 2012

The invisible hand promotes the interests of

A. Consumers
B. Society
C. Government
D. Producers

Question 27:

• JAMB 2012

The equilibrium point of a firm is attained at the point where the isoquant is

A. Greater than the isocost
B. Less than the isocost
C. Tangent to the isocost
D. Greater than the output

Question 28:

• JAMB 2013

An isoquant lying above to the right of another represents

A. A higher output level
B. Constant returns to scale
C. Over-capacity utilization
D. A lower output level