In a public company, enterpreneurial functions are performed by the
Workers
Shareholders
General manager
Board of directors
Correct answer is D
No explanation has been provided for this answer.
The additional revenue obtained by using one more unit of a factor is called
Average product
Marginal product
Diminishing returns
Marginal revenue product
Correct answer is D
No explanation has been provided for this answer.
A form of tacit collusion
Used to explain price rigidity
Illegal in nigeria
A form of overt collusion
Correct answer is A
No explanation has been provided for this answer.
In the short run, the monopolistic competitors
Always makes profit
Always incurs a loss
Always breaks -even
May close down
Correct answer is A
No explanation has been provided for this answer.
AVC = FC
MC = AVC
MC = AC
AC = AFC
Correct answer is C
No explanation has been provided for this answer.