Meaning And Determinants Of Supply Jamb Economics Past Questions
Question 1
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________
- A. marginal physical productivity
- B. marginal income productivity
- C. consumer's surplus
- D. economic rent
Question 2
The table above shows a demand schedule for eggs. What is the equilibrium price?
- A. N 100
- B. N110
- C. N60
- D. N80
