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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
951
The slope of a supply curve is
  • A. horizontal
  • B. uniform
  • C. positive
  • D. vertical
View Answer & Discuss (2) WAEC 2010
952
Equilibrium price is the price at which quantity
  • A. demand greater than quantity supplied
  • B. supplied is greater than quantity demanded
  • C. demand is equal to quantity supplied
  • D. supplied equals quantity produced
View Answer & Discuss WAEC 2010
953
A decrease in supply with demand remaining unchanged will cause the equilibrium price for a good to
  • A. be unchanged
  • B. remain elastic
  • C. remain inelastic
  • D. rise
View Answer & Discuss WAEC 2010
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954
At the highest level of total utility, marginal utility is
  • A. negative
  • B. positive and falling
  • C. positive and rising
  • D. zero
View Answer & Discuss (1) WAEC 2010
955
The law of diminishing marginal utility state that, the more a commodity is consumed the
  • A. higher the satisfaction derived from an additional unit
  • B. higher the price to be paid
  • C. lower the quantity supplied
  • D. lower the rate of increase in the total utility derived
View Answer & Discuss WAEC 2010
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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