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Economics Past Questions

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2856

If the coefficient of price elasticity of demand is 0.1, demand is

  • A. elastic
  • B. inelastic
  • C. zero elastic
  • D. unitary elastic
View Answer & Discuss WAEC 2014
2857

The profit of a producer is the difference between

  • A. total cost and marginal cost
  • B. total revenue and total cost
  • C. average cost and total cost
  • D. price and total cost
View Answer & Discuss WAEC 2014
2858

The rate of increase in utility is

  • A. average utility
  • B. increasing utility
  • C. total utility
  • D. marginal utility
View Answer & Discuss WAEC 2014
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2859

The supply of tea is linearly presented as p = 0 . 2Q, where P is the price and Q is the quantity. What is P when Q = 25?

  • A. $ 0.08
  • B. $ 5.00
  • C. $ 25.02
  • D. $ 125
View Answer & Discuss (4) WAEC 2014
2860

Increase in supply due to changes in plant size will take place only in the

  • A. normal time
  • B. long run
  • C. market period
  • D. short run
View Answer & Discuss (2) WAEC 2014
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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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