Consumer Equilibrium Using Indifference Curve And Marginal Analyses Jamb Economics Past Questions
Question 6
In the diagram above, the consumer attains equilibrium at point
- A. G
- B. H
- C. J
- D. K
Question 7
In the diagram L1L1 and L2L2 are budget lines. 1112 and 1 3 are indifference curves. which points are optimal?
- A. U and W
- B. V and W
- C. U and Z
- D. Y and Z
Question 8
In the diagram above, the marginal rate of substitution of X for Y, for a movement from S to T is
- A. 13:3
- B. 1:5
- C. 18:4
- D. 5:1
Question 9
The diagram shows the total utility curve. At the point M, marginal utility
- A. increases
- B. is unity
- C. diminishes
- D. is zero
Question 10
The diagram above represents the short-run position of a monopolist. The profit-maximizing output is
- A. Q3
- B. Q4
- C. Q1
- D. Q2
