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In order to reduce hardship faced by consumers due to high prices government can introduce
In perfect competition,price is determined by the
If commodity X is a by-product of commodity Y , this implies that both commodities are
If the coefficient of price elasticity of supply is greater than one, the supply is said to be
A set of factors that can shift the supply curve are changes in
If a consumer plans to spend 120k on four oranges but spent 80k, his consumer surplus is
The law of diminishing marginal utility explains why
One of the assumptions of ordinal utility theory is that
If the price of a commodity with elastic demand increases, the revenue accruing to the producer will
If the demand for a good is more elastic than its supply, the tax burden is borne
The most popular sizes of dresses and shoes are determined by the
The mean is the best measure of central tendency because it
The standard deviation of a set of data is
The downturn in the prices of shares on stock markets is a highlight of
Economics is the study of human behaviour as it relates to the
Determine the average product of the 4th unit of capital
The marginal product of the 5th unit of capital is
If the contribution of the oil sector is N3.6 million, what is the contribution of the other sectors?
The percentage contribution of the transport sector is: