Search SchoolNGR

Economics Past Questions and Answers

Waec Economics Questions

Question 1271:

Given the demand function Qd = 20 - ^1/₂P. What is Qd when P is $12?

SchoolNGR Classroom

A 6 units
B 10 nits
C 12 units
D 14 units

View Answer & Explanation

Question 1272:

If a particular consumer derives total utility of 22 utils having consumed 4 units of a given product, his average utility will be

SchoolNGR Classroom

A 88 utils
B 18 utils
C 5.5 utils
D 3.5 utils

View Answer & Explanation

Question 1273:

The law of diminishing marginal utility applies to a

SchoolNGR Classroom

A Firm which minimizes cost
B Consumer who maximizes satisfaction
C Producer who maximizes marginal product
D Consumer who minimizes total utility

View Answer & Explanation

Question 1274:

why is the law of diminishing returns a short run phenomenon?

SchoolNGR Classroom

A All inputs are fixed
B All inputs are variable
C Some outputs are variable
D Some inputs are variable

View Answer & Explanation

Question 1275:

Which of the following is capable of increasing the population of a country?

SchoolNGR Classroom

A Increase in birth rate
B Increase in death rate
C Poor medical facilities
D Decrease in birth rate

View Answer & Explanation

Stay Updated

Follow us on:

Subjects