1To maximize utility when the price of good A is N15, the price of good B is N12, and the marginal utility of good A is 75, what must the marginal utility of good B be?
2Which of the following models is NOT considered an example of a difference equation?
3According to Walras Law, which of the following statements is true?
4If the maximum price is N20, the demand is zero at that price, the equilibrium price is N12, and the equilibrium quantity is 15 units, what is the consumer surplus?
5In a difference equation containing demand and supply functions, what is the condition for the time path to converge?
6In a differential equation where the constant is 12 and the coefficient of y is 4, what is the particular solution?
7For production output to be maximised, what relationship must exist between the ratio of input prices and the Marginal Rate of Technical Substitution?
8What is the condition for the time path to oscillate in a difference equation involving demand and supply functions?
9If the slope of the lagged variable in a difference equation is 1, the particular solution of the equation is defined as:
10Given that the price of good A is N20 and good B is N10, if the marginal utility of good A is 200, what is the marginal utility of good B required to maximise utility?
