A movement from K to M will?
A. decrease the consumer’s utility B. increase the price of the commodity C. increase the consumer’s utility D. leave consumer’s utility unchanged Correct Answer: Option C – increase the consumer’s...
The diagram below shows the effect of?
A. excess demand over supply at q3 B. excess supply over demand at q2 C. minimum price legislation at P2 D. maximum price legislation at P2 Correct Answer: Option A
If the price per unit is N2; what is the average revenue when 6 men are employed?
A. N220 B. N120 C. 110 D. N330 Correct Answer: Option A – N220
Product differentiation in monopolistic competition implies that?
A. different buyers pay different prices for the same product B. different products are sold to the same buyer C. sellers determine whom to sell their products to D. the same product is available in different forms Correct Answer: Option D – the same product is...Products
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