Economics Past Questions | JAMB, WAEC, NECO and Post UTME Past Questions
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Question 4651
Given that the elasticity of demand for a commodity is 2.5, the percentage change in the quantity demanded as a result of a 10 percent change in price is
Options
A)
0.25
B)
0.40
C)
4.00
D)
25.00
Question 4652
A firm in a perfectly competitive market is faced with a demand curve whose elasticity is
Options
A)
unitary
B)
greater than one
C)
infinite
D)
less than one
Question 4653
The total quantity supplied of books per week is represented by the function Qs = 70 + V2P. At a price of N8.00, the quantity supplied is
Options
A)
70
B)
74
C)
76
D)
86
Question 4654
Demand for a factor of production is
Options
A)
A composite demand
B)
A joint demand
C)
A derived demand
D)
An elasticity demand
Question 4655
Restriction on credit creation by commercial banks can be effected through
Options
A)
an overdraft
B)
loans and allowance
C)
demand deposit
D)
liquidity ratio
E)
current account
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