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Economics 2000 JAMB Past Questions

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41
The supply of commodity II increasing from S 1 S 1 to S 2 S 2
  • A. Moves the price below OP 2
  • B. Leads to a fall in price from OP 1 to OP 2
  • C. Increases the price from OP 2 to OP 1
  • D. Moves the price to OP 1
View Answer & Discuss (2) JAMB 2000
42
Commodities I and II are
  • A. competitive supply
  • B. Substitute supply
  • C. Joint supply
  • D. Derived supply
View Answer & Discuss (4) JAMB 2000
43
In the diagram L1L1 and L2L2 are budget lines. 1112 and 1 3 are indifference curves. which points are optimal?
  • A. U and W
  • B. V and W
  • C. U and Z
  • D. Y and Z
View Answer & Discuss JAMB 2000
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44
The average product Y is
  • A. 15.5
  • B. 14.6
  • C. 12.0
  • D. 8.0
View Answer & Discuss JAMB 2000
45
The marginal product X is
  • A. 18
  • B. 20
  • C. 24
  • D. 25
View Answer & Discuss (2) JAMB 2000
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