Post Utme Afe Babalola University 2025 Commerce Question 4

Practice objective / multiple choice question 4 from the 2025 Post Utme Afe Babalola University Commerce examination.

Post Utme Afe Babalola University 2025 Commerce Objective / Multiple Choice
Question 4 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2025 • COMMERCE • objective

A consumer purchases a product with a price of ₦500 and a utility of 100. If the consumer's income increases by 20%, what is the likely effect on the consumer's demand for the product?

Answer Options

Correct Answer A. The demand for the product increases.
B. The demand for the product decreases.
C. The demand for the product remains unchanged.
D. The demand for the product increases by 20%.
Correct Answer
A
Correct Option:
The demand for the product increases.

About This Question

This is Post Utme Afe Babalola University 2025 Commerce Question 4. It is one of the objective questions from the 2025 Post Utme Afe Babalola University Commerce examination.

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