Post Utme Babcock University 2019 Economics Question 4

Practice objective / multiple choice question 4 from the 2019 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2019 Economics Objective / Multiple Choice
Question 4 POST_UTME_BABCOCK_UNIVERSITY • 2019 • ECONOMICS • objective

A consumer is faced with the following budget constraint: 2X + 3Y = 12. If the consumer's indifference curve is downward sloping, what is the opportunity \cost of consuming one more unit of good X?

Answer Options

Correct Answer A. The opportunity \cost of consuming one more unit of good X is the amount of good Y that must be given up.
B. The opportunity \cost of consuming one more unit of good X is the amount of good X that must be given up.
C. The opportunity \cost of consuming one more unit of good X is the amount of good Z that must be given up.
D. The opportunity \cost of consuming one more unit of good X is the amount of good X that must be consumed.
Correct Answer
A
Correct Option:
The opportunity \cost of consuming one more unit of good X is the amount of good Y that must be given up.

About This Question

This is Post Utme Babcock University 2019 Economics Question 4. It is one of the objective questions from the 2019 Post Utme Babcock University Economics examination.

View More Post Utme Babcock University 2019 Economics Questions More Post Utme Babcock University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support