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671
When a change in price does not affect the quantity demanded of a commodity , the price elasticity of demand is
  • A. fairly inelastic
  • B. infinitely elastic
  • C. perfectly inelastic
  • D. unitary elastic
View Answer & Discuss (1) WAEC 2004
672
For both the monopolist and the perfectly competitive firm , profit maximizing output occurs at the point where the
  • A. marginal cost curves cuts the marginal revenue curve from below
  • B. marginal revenue curve cuts the marginal output from above
  • C. marginal cost curve intersect the X-axis
  • D. marginal revenue curve intersects the Y-axis
View Answer & Discuss WAEC 2004
673
The market structure in which the operation are many and none of them can influence the price is
  • A. imperfect market
  • B. perfect market
  • C. oligopolistic
  • D. stock market
View Answer & Discuss WAEC 2004
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674
one main benefit of partnership is
  • A. the possibility of raising funds on the stock exchange
  • B. the possibility of attracting twenty one or more members
  • C. that members can specialize in various functions
  • D. that it enjoys its own separate legal entity
View Answer & Discuss WAEC 2004
675
Joint ventures are partnerships involving
  • A. the poor and the rich
  • B. employers and workers
  • C. government and private investors
  • D. multinationals and individuals
View Answer & Discuss WAEC 2004
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