11
If profit maximization is assumed to be the objective of a business enterprise, labour must be paid a wage rate equal to the?
A
marginal revenue of the enterprise
B
marginal revenue product of labour in the enterprise
C
average revenue of the enterprise
D
marginal cost of production
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If the equilibrium price of a certain commodity is N120.00 and the government fixed its price at N110.00, the supply will be?
A
greater than the equilibrium supply
B
smaller than the equilibrium supply
C
the same as the equilibrium supply
D
a determinant of the market forces of equilibrium
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If the price elasticity of demand for a certain commodity is less than unity, then?
A
an increase in the price of the commodity will raise the total revenue of the producer
B
an increase in price leaves the total revenue unchanged
C
a decrease in price raises the total revenue of the supplier
D
a decrease in price leaves the total revenue constant
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At equilibrium, one of the distinctive features of monopoly compared with perfect competition is that in the former?`
A
price is always equal to marginal cost
B
supply is always equal to demand
C
price is always higher than marginal cost
D
there are always many buyers and many sellers
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Which of the following functions does the wholesaler perform to save the retailer burden of carrying large stocks?`
i Breaking the bulk<br />
ii Packing the goods in smaller containers <br />
iii Providing vital information <br />
iv Grant credit facilities
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Production is said to be completed when?
A
goods and services reach the consumers
B
prices of goods and services are determined
C
goods are sold to the wholesaler
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a debenture share entitles its holder to?
A
participate in the annual general meeting of the company
B
share in the dividends declared
C
recieve a fixed interest on sums invested
D
have a representative on the Board of Directors
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A public liability company is different from a private limited company because i?
A
is registered with the registrar of companies
C
can raise capital of size by way of loans
D
can sell shares in the stock exchange
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A modern corporation is owned by?
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Wheat grows best in?
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