Economics

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Past Questions

Question 156
jamb 1981
a

the prcentage change in quantity demanded divided by the corresponding percentage change in price

b

the percentage change in price divided by the corresponding percentage change in quantity demanded

c

the percentage change in quantity demanded divided by the corresponding price

d

the percentage change in price divided by the corresponding quantity demanded

e

none of the above

Question 157
jamb 1981
a

the demand curve is fairly inelastic

b

the demand curve is fairly elastic

c

the demand curve is paraell to the quantity axis

d

the demand curve is positively sloped

e

the price of the commodity is too high

Question 158
jamb 1981
a

The firm faces an infinitely elastic demand curve

b

The firm makes no pure profit in the short run

c

The price does not change with changes in the output level of the firm

d

There is freedom of entry into, and exit out of the industry

e

The firm can sell all it produces at the market price

Question 159
jamb 1981
a

inflation or increasing prices generally

b

increases in foreign reserves

c

decreases in foreign reserves

d

Government budget surplus

e

none of the above

Question 160
jamb 1981
a

Durability

b

Division into the smallest units of value

c

Portable

d

Identifiable by all

e

Measure of value

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