Demand schedules and curves - Jamb Economics Past Questions and Answers

Question 11:

• JAMB 1987

Use the following information above to answer this question. X, Y and Z are the only three consumers of a commodity. Their respective demand schedules for the commodity are as given above. The market demand curve for the commodity cuts the quantity axis when quantity is

A. 75 units
B. 35 units
C. 7 units
D. Not determinable from the schedules except when graphed

Question 12:

• JAMB 1987

Use the following information above to answer this question. X, Y and Z are the only three consumers of a commodity. Their respective demand schedules for the commodity are as given above. What is market demand for the commodity when price is N5?

A. 65 units
B. 40 units
C. 30 units
D. 20 units

Question 13:

• JAMB 1988

One factor which influences the slope of a non-linear demand curve for a commodity is the?

A. Price of the commodity
B. Quantity of the commodity demanded
C. Availability of substitutes
D. Available of complements

Question 14:

• JAMB 1989

If the curve above shows the relationship between the price of commodity X and the quantity demanded of commodity Y then X and Y are

A. Complementary goods
B. Substitutes
C. Inferior goods
D. Luxury goods

Question 15:

• JAMB 1990

Which of the following graphs represents the price-quantity relationship between tea and lemon, if they are perfect complements? choose the answer from the option above

A. A
B. B
C. C
D. D