A. elastic B. inelastic C. unitary elastic D. perfectly elastic Correct Answer: Option A - elastic
A. the seasonal nature of the commodities B. high price of the commodities C. the changing tastes of consumers D.…
A. efficiency B. marketing trade C. indigenization D. foreign trade Correct Answer: Option A - efficiency
A. number of shares held B. status of the member C. equality of members D. management's decision Correct Answer: Option…
A. falling B. rising C. equal to zero D. maximum Correct Answer: Option A - falling
A. marginal cost be equal to total revenue B. marginal cost and marginal revenue be equal C. costs are mutually…
A. slope of the tangent to the curve at any given output B. U-shaped curve cutting the total cost curve…
A. the whole industry B. some sectors of the industry C. external factors D. internal factors Correct Answer: Option C…
In a small scale business, the fixed cost is N5,000, variable cost is N15,000 and the output is 500 units.…
A. MC = AR = TR B. TC =AR = P C. MC = AR = P D. MC =…