Variable cost - 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 2014

The short-run average variable cost of a firm will rise owing to

A. The expansion of factory space
B. The building of new warehouse
C. An increase in the cost of labour
D. An increase in the salaries of directors