In the table, the marginal cost when output is two, units is
16.00
20.00
36.00
40.00
48.00
Correct answer is C
No explanation has been provided for this answer.
A measure of national income used as comparison of standard of living among nations is
Net national product
Gross domestic product
Gross national product
Per capita income
Correct answer is D
Per capita income is a measure of the amount of income earned per person in a nation or geographical region. It is used to measure the national income of a country. The national income is then used to ascertain the standard of living. The higher the per capital income, the higher the standard of living and development of a region.
The circular flow of income
Gross national product plus depreciation
Incomes of the private sector
The profit of business enterprises
The output approach to national income determination
Correct answer is A
No explanation has been provided for this answer.
N350.00
N340.00
N360.00
N370.00
N55.00
Correct answer is B
No explanation has been provided for this answer.
An isoquant lying above to the right of another represents
A higher output level
Constant returns to scale
Over-capacity utilization
A lower output level
Correct answer is A
No explanation has been provided for this answer.
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