In the diagram below; what is the excess demand at the price of N60?
A. 200 B. 300 C. 600 D. 100 Correct Answer: Option B – 300
In the pie chart below; the percentage for children is equivalent to?
A. 288° B. 720° C. 90° D. 144° Correct Answer: Option D – 144°
In the diagram below; the marginal rate of substitution of X for Y. For a movement from S to T is?
A. 13:3 B. 1:5 C. 18:4 D. 5:1 Correct Answer: Option D = 5:1
A normal good with close substitutes is likely to have its price elasticity of demand?
A. between zero and one B. equal to unity C. less than unity D. greater than unity Correct Answer: Option D – greater than unity
For a supply curve; an increase in the price of a commodity will result in?
A. a decrease in supply B. a decrease in the quantity supplied C. an increase in supply D. an increase in the quantity supplied Correct Answer: Option D – an increase in the quantity suppliedProducts
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