Average revenue - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 1993

Given an output of 3 units, the average is

A. N16.00
B. N18.00
C. 20.00
D. 24.00

Question 3:

• 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 4:

• JAMB 2007

When a firm's average revenue curve is downward-slopping , it's price elasticity of demand will be

A. Zero
B. Greater than one
C. One
D. Between zero and infinity