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If the price of a commodity is fixed below equilibrium, this will lead to
If the supply of a product is elastic, a small reduction in price will
One of the major factors that brings about changes in supply is
Utility is the satisfaction derived from the
One of the assumptions of the cardinal approach is
If the price of a bicycle changes from N120 to N80 and quantity bought changes from 300 to 500 units, the elasticity of demand for bicycle is
An increase in the price of a commodity will result in
An increase in demand without a corresponding change in supply will lead to
Find the median of the following set of data 35,10,14,38,15,18,22,30 and 28
Which of the following set of statistical tools is used for further economic analysis?
If the standard deviation of a given data is 53, what is the variance?
An economy in which both the public and private sectors contribute to economic growth is as
The profit of a monopolist can be eliminated where price equals
If P = \(\frac{1}{4}\)(Qs + 10). What is the quantity supplied at N14?