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In the theory of production and cost, the average total cost of a firm is minimized when the marginal cost curve cuts the average total cost curve at its?
Alowest point
Bmiddle point
Cmaximum point
Ddownward slopping section
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Question 43
jamb1993
If 502.75 million tonnes of grains are consumed annually by a population of 88.5 million people, the per capita grains consumption will be?
A6.00 tonnes
B5.68 tonnes
C0.60 ton
D0.57 ton
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Question 44
jamb1993
An accurate census is important to a country because it helps?
Ain solving unemployment problem
Bto ensure equitable population redistribution relative to natural resources
Cin deciding on the creation of more local government
Din providing a second basis for formulating development policy
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Question 45
jamb1993
Which of the following factors is NOT responsible for the rural/urban drift in Nigeria?
AThe infrastructural facilities in cities
BDeclining fertility of rural farmlands
CRural electrification programme
DHigher living standards in urban areas
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Question 46
jamb1993
The working population refers to?
Aa population where the average age is falling
Bthe population within the '0 -14'age bracket
Cthe economically active segment of the population
Dthe dependent population
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Question 47
jamb1993
A system in which the means of production is held in trust for the people by government is known as a?
Asocialist economy
Bcapitalist economy
Csubsistence economy
Dmixed economy
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Question 48
jamb1993
The main function of the price system is to?
Adistribute resources equally among competing ends
Bensure efficient allocation of resources in the economic system
Callocate goods and services equally
Dminimize cheating
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Question 49
jamb1993
It is impossible to satisfy all human wants because?
