by Sunday | Oct 23 | Economics JAMB
A. there is constant returns to scale B. there is increasing returns to scale C. there is decreasing returns to scale D. diminishing returns set in Correct Answer: Option C – there is decreasing returns to scale
by Sunday | Oct 23 | Economics JAMB
A. maximum prices B. commodity boards C. minimum prices D. price control boards Correct Answer: Option A – maximum prices Explanation Price controls are government-mandated minimum or maximum prices that can be charged for specified goods. The government would...
by Sunday | Oct 23 | Economics JAMB
A. government B. sellers C. buyers D. market Correct Answer: Option D – market Explanation The price in perfect competition is determined by market forces which is demand and supply. There is one market price in perfect competition, firms can’t charge...
by Sunday | Oct 23 | Economics JAMB
A. in competitive supply B. in composite supply C. jointly supplied D. in excess supply Correct Answer: Option B – in composite supply Explanation When the process of making one thing results in a second product as well, that second thing is called a byproduct....
by Sunday | Oct 23 | Economics JAMB
A. perfectly elastic B. fairly inelastic C. infinitely inelastic D. fairly elastic Correct Answer: Option D – fairly elastic Explanation If a price elasticity of supply is greater than 1, it means supply is relatively or fairly...
by Sunday | Oct 23 | Economics JAMB
A. weather, price and technology B. technology, weather and population C. technology, price and taste D. population, price and taste Correct Answer: Option A – weather, price and technology Explanation A change in supply curve may be caused by changes in the...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.