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Economics 2000 WAEC Past Questions

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26
Average Variable Cost (AVC) curve
  • A. is U-shaped
  • B. rises from left to right
  • C. Slopes upwards
  • D. is horizontal to the X-axis
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27
The income elasticity of a normal goods is
  • A. positive
  • B. negative
  • C. zero
  • D. fixed
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28
The demand for a commodity that serves two or more purposes is
  • A. competitive demand
  • B. complemetary demand
  • C. composite demand
  • D. derived demand
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29
The charging of different prices to different group of buyers for the same goods or services is called
  • A. monopolistic competition
  • B. price determination
  • C. price discrimination
  • D. monopoly
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30
A tax on a commodity whose demand is perfectly inelastic will fall heavily on the
  • A. consumer
  • B. manufacturer
  • C. wholesaler
  • D. retailer
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts