Types Of Supply Jamb Economics Past Questions
Question 1
The effects on the demand for product A caused by a change in the price of product B is called____________
- A. Joint demand
- B. cross-elasticity of demand
- C. elasticity of supply
- D. competitive demand
Question 2
If P = \(\frac{1}{2}\)(Qs + 15). What is the quantity supplied at N9.00?
- A. 33.0
- B. 12.0
- C. 3.0
- D. 1.5
Question 3
The supply of commodity II increasing from S 1 S 1 to S 2 S 2
- A. Moves the price below OP 2
- B. Leads to a fall in price from OP 1 to OP 2
- C. Increases the price from OP 2 to OP 1
- D. Moves the price to OP 1
Question 4
The difference in each country's total output on specification is
- A. 16000 units
- B. 9000 units
- C. 8000 units
- D. 7000 units
Question 5
One of the characteristics of a monopolist is that, he can influence
- A. quantity produced by other producers
- B. prices charged by other producers
- C. both price and quantity
- D. price or quantity
