Indigenization policy is a measure aimed at
Privatizing the existing business owned by the state
Commercializing state owned businesses
Reducing foreign economic domination
Making the indegenes managing directors of businesses
Correct answer is C
Indigenization policy is a deliberate government policy aimed at replacing foreign investors and personnel in certain industries with indigenes or the natives of a country that is, excluding foreign participation in certain productive activities.
In a partnership, the conduct of members is guided by
A memorandum of understanding
The article of partnership
An article of association
A partnership constitution
Correct answer is B
Articles of partnership is a voluntary contract between/among two or more persons to place their capital, labor, and skills into business, with the understanding that there will be a sharing of the profits and losses between/among partners.
Charging different prices for the same commodity is a feature of a
Perfect competition
Commodity market
Monopolistic competition
Monopoly market
Correct answer is A
In a perfect competitive market, price discrimination occurs when identical goods and services are sold at different prices by the same provider. In pure price discrimination, the seller will charge the buyer the absolute maximum price that he is willing to pay.
At which stage of production should a firm shut down? When
AVC=ATC
AVC
AVC>price
AVC=MC
Correct answer is C
A firm will choose to implement a shutdown of production when the revenue received from the sale of the goods or services produced cannot even cover the variable costs of production. In that situation, the firm will experience a higher loss when it produces, compared to not producing at all.
As long as price is above average variable costs, the firm should stay in business to minimize its losses in the short run.
The necessary condition for a firm to be in equilibrium is that marginal revenue is
Greater than marginal
Equal to marginal
Less than average revenue
Equal to average
Correct answer is B
No explanation has been provided for this answer.