In the national income and product accounts, double counting is avoided if?

The Gross Domestic Product is defined as the total value of?

<img alt="" class="alignnone size-full wp-image-296671" height="67" src="https://data.ulearngo.com/assets/a943dba3-32de-4899-98f9-ca46e8a60977" width="300"/>Consider the table which shows output (O), total cost (TC) of production and marginal cost (MC) for a firm in a competitive market. Suppose price (P) = ₦12, what is the maximum profit the firm can make?

<img alt="" class="alignnone size-full wp-image-296673" height="200" src="https://data.ulearngo.com/assets/2a5cf72f-4d26-41d3-bc46-77f4f614fe06" width="300"/>Demand is relatively inelastic

<img alt="" class="alignnone size-full wp-image-296673" height="200" src="https://data.ulearngo.com/assets/e9ff57c2-11b3-4885-a658-3ba4d40d01b8" width="300"/>The firm portrayed is selling in

<img alt="" class="alignnone size-full wp-image-296675" height="170" src="https://data.ulearngo.com/assets/5c1e35c8-db90-482f-8aad-aa8b2ded93c6" width="300"/>Consider the following diagram where XYZ represents the average curve of a firm. XY shows that as out put increases the average declines. However, this decline cannot continue indefinitely because

\[ 
\begin{array}{|l|c|c|} 
\hline 
\text{Stage of Product} &amp; \text{Value of Input} &amp; \text{Sale Value of Output} \\ 
\hline 
\text{Maize farmer} &amp; - &amp; N10.00 \\ 
\text{Flour miller} &amp; N10.00 &amp; N12.00 \\ 
\text{Baker} &amp; N12.00 &amp; N15.00 \\ 
\text{Shop keeper} &amp; N15.00 &amp; N20.00 \\ 
\hline 
\end{array} 
\]The value of total output in the economy using the value added approach is

<img alt="" class="alignnone size-full wp-image-296686" height="276" src="https://data.ulearngo.com/assets/9edb5e9b-b790-4417-a39d-49977c99d4c9" width="423"/>The long-run equilibrium price and quantity forthe firm are respectively

<img alt="" class="alignnone size-full wp-image-296686" height="276" src="https://data.ulearngo.com/assets/368e80bb-a6f3-4660-9302-52603a9fbb0a" width="423"/>The excess profit made by the firm in the short-run is represented by

<img alt="" class="alignnone size-full wp-image-302725" height="214" src="https://data.ulearngo.com/assets/b97afc48-c38c-496b-bdd8-63605de1f6d7" width="300"/>Which of the following statements must hold if price discrimination is to be possible?

Which of the following statements must hold if price discrimination is to be possible?

1991 JAMB UTME Economics Past Questions

In the national income and product accounts, double counting is avoided if?

The Gross Domestic Product is defined as the total value of?

Consider the table which shows output (O), total cost (TC) of production and marginal cost (MC) for a firm in a competitive market. Suppose price (P) = ₦12, what is the maximum profit the firm can make?

Demand is relatively inelastic

The firm portrayed is selling in

Consider the following diagram where XYZ represents the average curve of a firm. XY shows that as out put increases the average declines. However, this decline cannot continue indefinitely because

\[ \begin{array}{|l|c|c|} \hline \text{Stage of Product} & \text{Value of Input} & \text{Sale Value of Output} \\ \hline \text{Maize farmer} & - & N10.00 \\ \text{Flour miller} & N10.00 & N1…

The long-run equilibrium price and quantity forthe firm are respectively

The excess profit made by the firm in the short-run is represented by

Which of the following statements must hold if price discrimination is to be possible?

Which of the following statements must hold if price discrimination is to be possible?

1991 JAMB UTME Economics Past Questions

In the national income and product accounts, double counting is avoided if?

The Gross Domestic Product is defined as the total value of?

Consider the table which shows output (O), total cost (TC) of production and marginal cost (MC) for a firm in a competitive market. Suppose price (P) = ₦12, what is the maximum profit the firm can make?

Demand is relatively inelastic

The firm portrayed is selling in

Consider the following diagram where XYZ represents the average curve of a firm. XY shows that as out put increases the average declines. However, this decline cannot continue indefinitely because

\[ \begin{array}{|l|c|c|} \hline \text{Stage of Product} &amp; \text{Value of Input} &amp; \text{Sale Value of Output} \\ \hline \text{Maize farmer} &amp; - &amp; N10.00 \\ \text{Flour miller} &amp; N10.00 &amp; N1…

The long-run equilibrium price and quantity forthe firm are respectively

The excess profit made by the firm in the short-run is represented by

Which of the following statements must hold if price discrimination is to be possible?

Which of the following statements must hold if price discrimination is to be possible?

\[ \begin{array}{|l|c|c|} \hline \text{Stage of Product} & \text{Value of Input} & \text{Sale Value of Output} \\ \hline \text{Maize farmer} & - & N10.00 \\ \text{Flour miller} & N10.00 & N1…