Economics Past Questions and Answers

If the supply curve of labour market is given as S = 4L + 8. What is L when s = 20?

All of the following describes conditions necessary for existence of a perfect market EXCEPT

From the graph above, the consumer is at equilibrium at point

Calculate the equilibrium level of national income (Y) where Y = C + I + G; C = 100 + 0.75Y; I = 50; G = 200

When a kilogram of carrot is #8.00, 20 kilograms are demanded and when the price decreased to #6.000 per kilogram, 30 kilograms are demanded. The elasticity of demand equals to