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.
One of the major problems of product distribution in most developing countries is ...
The assumption of profit maximization implies profit ...
A major function of the price mechanism is that it determines the ...
As a firm expands, it enjoys some advantages called ...
According to the theory of comparative advantage specialization will result in ...
Government expenditure on the construction of roads and bridges is ...
Malthus became famous through his theory which may be stated simply ...
An electrical engineer who is teaching physics in a secondary school is said to be ...
Stock and shares as well as bonds are examples of instruments used in the ...