Jamb Economics 2013 Past Questions and Answers

Question 46:

• JAMB 2013

From the graph above, the price elasticity of demand is

A. Unitarily elastic
B. Perfectly elastic
C. Perfectly inelastic
D. Fairly inelastic

Question 47:

• JAMB 2013

From the indifference curve above, consumer will prefer combination

A. F
B. S
C. M
D. K

Question 48:

• JAMB 2013

From the graph above, R represents

A. Marginal cost
B. Total cost
C. Variable cost
D. Fixed cost

Question 49:

• JAMB 2013

The optimum level of output of the firm is

A. BC
B. OB
C. OS
D. BS