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Economics 2012 JAMB Past Questions

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46

From the above, calculate the price elasticity of demand

  • A. 5.0
  • B. 2.0
  • C. 1.0
  • D. 0.5
View Answer & Discuss (14) JAMB 2012
47

The consumer is at equilibrium at point

  • A. N
  • B. P
  • C. M
  • D. K
View Answer & Discuss (2) JAMB 2012
48

To move from point M to K, the consumer has to increase the

  • A. consumption of X and reduce the consumption of Y
  • B. expenditure on Y
  • C. expenditure on X
  • D. consumption of Y and reduce the consumption of X
View Answer & Discuss (1) JAMB 2012
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49

From this diagram, the minimum wage OW will lead to

  • A. full employment of resources
  • B. unemployment
  • C. inflation
  • D. full employment of factors of production
View Answer & Discuss (4) JAMB 2012
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