Unit of output Table cost 1 20 2 32 3 42 4 48 5 50 in the above table, the marginal cost of the 3rd unit of output is

Economics is a science which deals basically with

In the study of Economics, land, labour, capital and entrepreneur are referred to as factors of production. These factors produce commodities only if they are?

The control price for a carton of beer in Nigeria is N7.20. But a carton of beer is sold in parts of the country for as much N15.00 The cause of this exorbit...

We can classify the people of Nigeria into three broad age group :Group one, 0-15years ; Group Two,16-64years; Group Three, 65years and above. Group Two is t...

Economist speak about 'opportunity cost' when a person

Most firms are financed by share capital. The shares which do not carry any fixed rate of dividend are known as ?

To calculate the annual natural growth rate of a country's population, one has to know the country's annual birth rate and

The supply of and demand for goods and services are influenced by the?