by Sunday | Nov 6 | Economics WAEC
A. total variable cost B. total fixed cost C. marginal cost D. total revenue Correct Answer: Option D D. total revenue Explanation Total Revenue (TR) is calculated by multiplying the quantity of goods sold (Q) by the price of the goods (P). For example, if you sold...
by Sunday | Nov 6 | Economics WAEC
A. can concentrate on all goods B. can efficiently produce their own needs C. can save time and produce more D. become experts in all areas of production Correct Answer: Option D D. become experts in all areas of production Explanation The division of labour is the...
by Sunday | Nov 6 | Economics WAEC
A. total cost of production is increasing B. average fixed cost is rising continuously C. average cost of production decreases as output increases D. average revenue and marginal revenue are decreasing Correct Answer: Option C C. average cost of production decreases...
by Sunday | Nov 6 | Economics WAEC
A. price floor B. demand price C. market-clearing price D. satisfactory price Correct Answer: Option C C. market-clearing price Explanation Market-clearing price is another term used interchangeably with equilibrium price. The equilibrium price is a common economics...
by Sunday | Nov 6 | Economics WAEC
A. excess supply B. the activities of rich individuals C. price legislation D. inadequate information Correct Answer: Option C C. price legislation Explanation A parallel market arises when the government limits the amount of foreign exchange that can be bought or...
by Sunday | Nov 6 | Economics WAEC
A. greater than his marginal utility B. less than his marginal utility C. equal to his marginal utility D. equal to his total utility Correct Answer: Option C C. equal to his marginal utility Explanation A consumer is rational if he decides for the option that...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.