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Producers Equilibrium - Economics Jamb Past Questions and Answers

Economics Questions And Answers On Producers Equilibrium
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Economics Jamb Past Questions


Questions and Answers on Producers equilibrium

Question 1 :



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 :



The shape of the production possibility frontier is determined by the_________

A. Law of returns to scale
B. Law of diminishing returns
C. Factors of productions
D. Technology


Question 3 :



From the diagram shown, the optional point of production is_____________?

A. R
B. T
C. S
D. U


Question 4 :



From the graph above the consumer will attain equilibrium at point_______________

A. J
B. K
C. M
D. L


Question 5 :



Given a consumption function C = 10 + 0.6Y, determine the value of C if Y is 20

A. 36.60
B. 22.00
C. 30.60
D. 26.00






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