JAMB Economics Past Questions & Answers - Page 121

What is the median quantity?

Applying the law of comparative costs, how many units of groundnuts will Nigeria produce?

The table above shows the combinations of beans and rice that can be purchased by a consumer. The opportunity cost of moving from K to L is

In the diagram above, ST is the budget line while l,ll and lll represent indifference curves. A rational consumer will choose to consume at point

In the table above, the price of commodity y is N2 and that of x is N1 while the individual has an income of N12. Determine the combination of the two commodities the individual should consume to maximize his utility