Economics Past Questions and Answers

The demand for beans in bags is given by the function Q - 36 + 0, 4P = 0. Where P is price in naira and Q is quantity, find Q when P = 20 naira.

If the price of goods X rises and the quantity demanded of goods Y increases then the two goods X and Y must be

in a situation where demand is perfectly elastic , imposition of tax on a commodity to raise its price will result in

Patents are examples of

which of the following is a characteristics of monopoly