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4391

In perfectly elastic supply, the supply curve

  • A. is vertical
  • B. is horizontal
  • C. slopes upward
  • D. slopes downward
View Answer & Discuss JAMB 2022
4392

A country's budget allocation to various sectors of the economy is shown in the pie chart above...

Use it to answer this question.

If the budget of the country was $7,200, how much is allocated to Education?

  • A. $2,400.00
  • B. $2,000.00
  • C. $1,200.00
  • D. $1,000.00
View Answer & Discuss (4) JAMB 2022
4393

A country's budget allocation to various sectors of the economy is shown in the pie chart above...
Use it to answer this question

What is the ratio of expenditure on health to Agriculture if the yearly budget is 7200?

  • A. 2: 3
  • B. 3:4
  • C. 4:3
  • D. 5:4
View Answer & Discuss (7) JAMB 2022
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4394

A consumer of a single commodity is in equilibrium when

  • A. he can equate his demand with price
  • B. he equates marginal utility and price
  • C. he can equate his marginal and total utilities
  • D. his marginal utility is equal to zero
View Answer & Discuss (2) JAMB 2022
4395

If the government imposes a minimum price on a commodity

  • A. market surplus occurs
  • B. the market will be cleared in the short-run
  • C. excess demand occurs
  • D. government regulation is no longer needed
View Answer & Discuss JAMB 2022
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