Post Utme Al Hikmah University 2018 Economics Question 2

Practice objective / multiple choice question 2 from the 2018 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2018 Economics Objective / Multiple Choice
Question 2 POST_UTME_AL-HIKMAH_UNIVERSITY • 2018 • ECONOMICS • objective

A consumer has a budget of ₦1,000 and faces the following price schedule: good A: ₦200, good B: ₦300. If the consumer's indifference curves are convex to the origin, what is the likely outcome for the consumer's optimal consumption bundle?

Answer Options

A. The consumer will consume only good A.
B. The consumer will consume only good B.
Correct Answer C. The consumer will consume a bundle of both goods A and B.
D. The consumer will not consume either good A or B.
Correct Answer
C
Correct Option:
The consumer will consume a bundle of both goods A and B.

About This Question

This is Post Utme Al Hikmah University 2018 Economics Question 2. It is one of the objective questions from the 2018 Post Utme Al Hikmah University Economics examination.

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