HomoSapiien:
Zaragal you are rushing things

I need to Change my jamb combination, a friend just told me Commerce will be rejected and that he wrote Government, chai, i don't know anything in Government

zaragal:


Rushing things how mbok??...I shouldn't take anymore topics

Sorry, please continue treating those topics, i will com back to dem. I am not getting myself this evening, can't even find my scratch card again..

tobiee please help, i lost my card and I need to change my combination… what do u think

zaragal:
11)The long-run average cost curve is called planning curve because it shows what happens to cost when
A) a bigger size of plant is built
B)different sizes of plants are built
C) variable inputs are increased
D) fixed factors are increased ans

12)for a firm to break even in the long run, the marginal cost curve must cut the
A) average variable cost curve @ it's highest point
B) averse cost curve @ any two lowest point ans
C)total cost curve at its lowest point
D) average cost curve at its lowest point

13) given the cost function c=160+36Q, what is the average cost at 20 units of output?
A)#720.00
B)#216.00
C)#44.00 ans
D)#880.00

14)In a textile factory, the cost of cotton used is a typical example of
A) an average cost
B) a variable cost ans
C) a total cost
D) a fixed cist

10) which of the following is true at the quantity of output here average cost (ac) per unit has reached its minimum level
A) AVC=FC
B)MC=AVC
C)MC=AC ans
D)AC=AFC

zaragal:
6)Efficient utilization of resources in economics means
A) getting the most out of a productive effort ans
B) making payment to all factors of production
C)saving part of what is produced
D)priortiy rating of all that is produced
E) making use of all factors.

7)which of the following if not a reward of factor of production??
A) interest
B)wage
C)rent
D)subsidy ans
E) profit

average fixed cost is
A) average total cost less the sum of average variable cost
B) half the sum of all costs
C)total cost minus marginal cost
D) total fixed cost divided by the level of output ans
E) total fixed cost plus marginal cost

9)As a firm increases it's output, the average fixed cost
A) tends to rise continuously
B) remains constant
C) rises and then falls
D) tends to decrease continuously ans

10) an out output is 60 while fixed cost is 60 and total cost is 150 wat is the average variable cost??
A) 2.50
B)1.50 ans
C)90.00
D)150.00

zaragal:
Questions
1) Given that fixed cost is #500.00, variable cost is #1500.00 and output is #50 units what will be the average cost of producing one unit

A) #20.00
B)#60.00
C)#50.00
D)#40.00 ans
E)#30.00

2) which of the following is regarded as fixed cost?
A) cost of fuel
B) cost of light
C) rent on land ans
D) cost of raw materials
E) labour wages

3)land is often different from other factors of production because it
A) is a free gift of nature ans
B) constitutes one- third of the entire world
C)has different grades
D) is owned by the govt
E) is owned by the individuals

4) if X= ten-ten-1 where TC= total cost and ten = unit cost then X is
A) average cost
B) total cost minus one
C) total variable cost
D) marginal cost
E) unit cost
Don't understand number 4

5)revenue is the
A) total profit made after sales.
B) total money made from the sale of goods ans.
C) values of goods minus depreciation
D) amount spend on purchases
E)cost of goods multiplied by quantity produced

zaragal:
6)The price mechanism is more effective in achieving efficient performance of the economy than the planned mechanism because of the
A) role of supply and demand ans
B) tole of material incentive
C) existence of buyers and sellers
D) role of money

7)a major characteristic of a mixed economy is that
A) economic decision are made by both the rich and the poor
B) both primary and secondary production are undertaken
C) the federal and the state govt undertake joint projects
D) economic activities are undertaken by both the public and private sectors answer

which of these would not be included in the fundamental principles of a free enterprise economy

A) private ownership of factors of production
B) the right to organize factors for productive purposes
C) the right to make profit
D) government's control of the mobility of factors of production answer

9) which of these should determine, in a planned economy. How the factors of production are to be allocated among different production activities??

A) fairness
B) the distribution of income and wealth
C) public need which is determined by the government ans
D) private needs determined by the market

10) which of the following activities of government precludes the existence of a market economy?
A) the imposition of taxes
B) the control of the location of industry
C) the central planning of all production answer
D) the fixing of maximum prices for all necessities

adeluleye:
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zaragal:

Meaning bbm users can't prepare for jamb??

zaragal:
Pls can someone attempt does questions so we cn make corrections and explanations and move to another topic...ibadanfinest I cn see anything on ur quotes

Tobiee:
[email] Homosapiien You can only do it in a cyber cafe tho' cause it needs thumb verification. Or you just go to jamb office nd tell them abt it. [/email]

HomoSapiien:


I have done it. Thanks bro.

Orinameh:
Practice Jamb questions, get up-to-date school information, study the summary of Last Days at Forcados High School, interact with a growing community, track your progress...all on prepaapp. Download free on playstore via /prepaapp