Decrease the consumer's utility
Increase the price of the commodity
Increase the consumer's utility
Leave consumer's utility unchanged
Correct answer is C
No explanation has been provided for this answer.
The diagram above shows the effect of
Excess demand over supply at q3
Excess supply over demand at q2
minimum price legislation at P2
Maximum price legislation at P2
Correct answer is A
No explanation has been provided for this answer.
If the price per unit is N2, what is the average revenue when 6 men are employed?
N220
N120
110
N330
Correct answer is C
Average revenue (AR), is revenue per unit and is found by dividing TR by the quantity sold, Q.
Hence we have: 66066606 = 110
The difference in each country's total output on specification is
16000 units
9000 units
8000 units
7000 units
Correct answer is D
No explanation has been provided for this answer.
Find the mean price of the distribution
N54
N51
N56
N59
Correct answer is A
m = sum of the terms
number of terms
Mean = 40 + 48 + 55 + 60 + 70 = 273 = 54.6
5
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