by Sunday | Oct 23 | Economics JAMB
A. consumption of X and reduce the consumption of Y B. expenditure on Y C. expenditure on X D. consumption of Y and reduce the consumption of X Correct Answer: Option D – consumption of Y and reduce the consumption of X Explanation At point M, the consumer...
by Sunday | Oct 23 | Economics JAMB
A. N B. P C. M D. K Correct Answer: Option D = K Explanation The consumer is at equilibrium at point K where the consumption of Y = X (intersection between Y ans X).
by Sunday | Oct 23 | Economics JAMB
A. 5.0 B. 2.0 C. 1.0 D. 0.5 Correct Answer: Option A = 5.0 Explanation price elasticity of demand is calculated as the: percentage change in quantity demanded/percentage change in price Change in quantity = 500 – 400 = 100 % change = 100/100 = 1% Change in...
by Sunday | Oct 23 | Economics JAMB
A. benefits derived from consuming a cheap commodity B. excess of total expenditure over total utility C. difference between marginal utility and marginal cost D. excess of marginal utility over the price Correct Answer: Option C – difference between marginal...
by Sunday | Oct 23 | Economics JAMB
A. scale of preference B. consumer sovereignty C. consumer rationality D. price of the commodity Correct Answer: Option B – consumer sovereignty Explanation Demand patterns are predictions on how consumers react to different products and services in the market....
by Sunday | Oct 23 | Economics JAMB
A. not useful for large data B. not suitable for further statistical analysis C. cumbersome to determine the actual value D. affected by extreme data Correct Answer: Option D – affected by extreme data Explanation One of the disadvantages of the arithmetic mean...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.