Waec Economics 1999 Past Questions and Answers

Question 16:

• WAEC 1999

The marginal revenue curve of a monopolist is

A. Upward sloping from the right to left
B. Downward sloping from left to right
C. Paralell to the quantity axis
D. Downward sloping from right to left

Question 17:

• WAEC 1999

when all factor inputs are doubled , the production possibly curve will

A. Shift from left to right and return to its orignal position
B. Shift from left to right
C. Remain in its former position
D. Shift from right to left

Question 18:

• WAEC 1999

income elasticity of demand is measurement of the responsiveness of

A. Price to change in income
B. Quantity demanded to change in income
C. Change in expenditure to change in income
D. Change in expenditure to change in price of the commodity

Question 19:

• WAEC 1999

The establishment of industries in rural areas will help to reduce

A. Urban-rural migration
B. Urban-urban migration
C. Rural-urban migration
D. Rural-rural migration

Question 20:

• WAEC 1999

Government imposes taxes mainly to

A. Punish the citizens
B. Provide social amenities
C. Donates to poorer countries
D. Execute white elephant projects