Post Utme Economics Questions
Question 231:
Goods with elasticity greater than one are:
- A Inelastic goods
- B Inferior goods
- C Elastic goods
- D Unitary goods
Question 232:
Income elasticity of demand measures responsiveness of demand to changes in:
- A Commodity price
- B Government taxation
- C Consumer income
- D Population size
Question 233:
Cross elasticity of demand relates demand for one commodity to:
- A Consumer income
- B Population growth
- C Production cost
- D Price of another commodity
Question 234:
Average fixed cost falls continuously because:
- A Output increases
- B Marginal cost declines
- C Fixed cost rises
- D Variable cost disappears
Question 235:
The stage where marginal product begins to fall but remains positive is:
- A Stage one production
- B Stage three production
- C Stage zero production
- D Stage two production