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Equating this to zero to find the minimum gives Q = 2.5, at which level of output average variable cost is 53.75. Thus if the market price of the product drops below 53.75, the firm will choose to shut down production. The long run shutdown point for a competitive firm is the output level at the minimum of the average total cost curve.
The Nigeria Union of Journalists (NUJ) urged Tinubu to address the dispute with the ASUU. [21] On 25 June 2024, 1,800 petrol stations were shut down in northeastern Nigeria, after the Independent Petroleum Marketers Association of Nigeria (IPMAN) began a strike in protest against an anti-smuggling operation by the Nigeria Customs Service (NCS).
A related government intervention to price floor, which is also a price control, is the price ceiling; it sets the maximum price that can legally be charged for a good or service, with a common example being rent control. A price ceiling is a price control, or limit, on how high a price is charged for a product, commodity, or service.
ABUJA, Nigeria (AP) — Nigerian government workers on Tuesday continued working after last-minute efforts by authorities averted a nationwide strike to protest growing hardship that could have ...
This also made Nigeria the last country in the world to abandon the £sd currency system in favour of a decimal currency system. There was a government plan to redenominate the naira at 100:1 in 2008, but the plan was suspended. The currency sign is U+20A6 ₦ NAIRA SIGN. The name "Naira" was coined from the word "Nigeria" by Obafemi Awolowo.
Microsoft is closing down its Africa Development Centre in the continent's most populous nation Nigeria, which will lead to job losses, a spokesperson said on Wednesday. The centre, based in the ...
The statistics office said the prices of goods and services, measured by the Consumer Price Index, increased by 15.63 per cent in December 2021 when compared to December 2020. According to the NBS, this rise in the food index was caused by increases in prices of bread and cereals, food products, meat, fish, potatoes, yam and other tubers, soft ...
The firm began providing automatic telex service in 1971 and in 1980, NET introduced international Direct Dialing and faster telex services between Nigeria and select Western countries. NET also offered private leased telegraph services with annual subscription fees to companies and managed television events transmitted or received via ...