Which of the following enterprises does NOT pursue the sole objective of profit maximization?
Roads of Nigeria Ltd
Union Bank of Nigeria Ltd
Nigeria Electric Power Authority
Volkswagen (VW) Nigeria Ltd
Kingsway Nigeria Ltd
Correct answer is C
No explanation has been provided for this answer.
In a sole proprietorship, decisions are made by the
Government
Board of directors
Management
Shareholder’s conference
Owner
Correct answer is E
No explanation has been provided for this answer.
Retailers in an economy performs the function of
Production
Exchange
Distribution
Hoarding
Investment
Correct answer is C
No explanation has been provided for this answer.
12
6
10
2
9
Correct answer is C
The marginal cost is the additional cost incurred in the production of an extra unit of a commodity.
From the table above, the firm incurred an extra cost of N10 to produce an extra unit of the commodity at 3 units.
At 2 units, it spent N32. When it increased the unit of output from 2 to 3, it was produced at N42 thereby incurring an additional cost of N10 in the production cost.
That is, 42 - 32 = 10
In an inflationary period which of the following statements is NOT true?
Wages rise simultaneously with prices
The purchasing power of money diminishes
More money runs after a limited quantity of goods
Money supply increases
Aggregate real demand exceeds aggregate real supply
Correct answer is A
No explanation has been provided for this answer.