John an apprentice, engineer and amateur trumpet player, ...
John an apprentice, engineer and amateur trumpet player, was earning ₦30 per week before accepting Full-time employment in a top orchestra, for which he now receives ₦150 per week. ₦120 of his current weekly earnings can be described as_______
Marginal physical productivity
Marginal income productivity
Consumer's surplus
Economic rent
Correct answer is D
Economic rent is a surplus arrived at by deducting marginal product and opportunity cost.
Indicate which of the following are invisible trade items in a country’s balance of payments? ...
In taxation, the benefit principle requires that ...
Both in the short run and in the long run, a firm maximizes its profits when ...
The invisible hand promotes the interests of ...
Which of the following advantages of localization of industries may also be a disadvantage? ...
Which of the following is an advantage of free enterprise economy? ...