Elasticity of Supply - Jamb Economics Past Questions and Answers

Question 1:

• JAMB 2019

A demand which gives rise to the reverse of the law of demand is__________

A. Derived demand
B. Joint demand
C. Abnormal demand
D. Composite demand

Question 2:

• JAMB 2019

The coefficient of the price elasticity of supply is always_____________

A. Constant
B. Zero
C. Positive
D. Negative

Question 3:

• JAMB 2016

\(\begin{array}{c|c}
Price (N) & 20 & 16 \\
\hline
\text{Quantity demanded} & 100 & 58
\end{array}\)
From the table above, the elasticity of supply is_____?

A. Inelastic supply
B. Perfectly elastic
C. Elastic supply
D. Unitary elastic

Question 4:

• JAMB 2016

The supply curve above is

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

Question 5:

• JAMB 2016

If price of yams decreases from N15.00 per tuber to N13.50 and the quantity supplied decreases by 20%. What is the elasticity of supply?

A. 2.00
B. 0.50
C. 1.50
D. 1.00