by Sunday | Nov 6 | Economics WAEC
A. law of diminishing marginal returns B. concept of economies of scale C. law of comparative cost advantage D. theory of division of labour Correct Answer: Option A A. law of diminishing marginal returns Explanation Diminishing returns, also called law of diminishing...
by Sunday | Nov 6 | Economics WAEC
A. increasing returns to scale B. diminishing average returns C. decreasing marginal returns D. decreasing average fixed cost Correct Answer: Option C C. decreasing marginal returns Explanation In the long run, when all inputs under the control of the firm are...
by Sunday | Nov 6 | Economics WAEC
A. there is no government intervention B. the demand is the same as the supply C. buyers and sellers are free to sell more goods D. there is no free entry and exit Correct Answer: Option B B. the demand is the same as the supply Explanation Market equilibrium is a...
by Sunday | Nov 6 | Economics WAEC
A. at the equilibrium and causes shortage B. above the equilibrium and causes shortage C. below the equilibrium and causes shortage D. above the equilibrium and causes surplus Correct Answer: Option B B. above the equilibrium and causes shortage Explanation A price...
by Sunday | Nov 6 | Economics WAEC
A. the consumer is in equilibrium B. more of the commodity can be consumed C. total utility is also equal to its price D. the market is not in equilibrium Correct Answer: Option C C. total utility is also equal to its price Explanation The price a consumer is willing...
by Sunday | Nov 6 | Economics WAEC
A. fairly elastic supply B. infinitely elastic supply C. fairly inelastic supply D. perfectly inelastic Correct Answer: Option B B. infinitely elastic supply Explanation Infinitely elastic supply:- by definition, means that any decrease in the product price would...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.