by Sunday | Aug 5 | Economics WAEC
A. normal goods B. Giffen goods C. ostentatious goods D. capital goods Correct Answer: Option A – normal goods
by Sunday | Aug 5 | Economics WAEC
A. an increase in the wage rate and an increase in the number of people employed B. a decreased in the wage rate and a decrease in employment C. an increase in the wage rate and a decrease in the employment D. a decrease in the wage rate and an increase in employment...
by Sunday | Aug 5 | Economics WAEC
A. Marginal Cost B. Average Cost C. Total Cost D. Average Cost relative to price in the market Correct Answer: Option D – Average Cost relative to price in the market
by Sunday | Aug 5 | Economics WAEC
A. always reflects the cost of labour B. reflects the variable, but not the fixed cost of production C. does not rise above variable costs D. is determined by the cost of production and the current rate of inflation Correct Answer: Option B – reflects the...
by Sunday | Aug 5 | Economics WAEC
A. explicit cost B. implicit cost C. prime cost D. average cost Correct Answer: Option A – implicit cost