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Diminishing marginal utility implies that
As long as marginal utility is positive, total utility must be
If the demand elasticity coefficient of cars is 0.5, it implies that the demand for petrol is
If income rises from N2000 to N4000 and quantity demanded increase from 80 units to 120 units, find the income elasticity of demand
A major determinant of the demand for a luxury goods is
If 100 units and 120 units of commodity X are supplied at N80 at different times, it means that there is
If the standard deviation of a given data is 8.2, find its variance
If the increase in the price of yams is used to estimate the inflation rate, this is an example of
The production possibility curve can be used to explain the underlying concepts of
The deregulation of telecommunication services in Nigeria is a characteristic of