Post Utme Caleb University 2022 Economics Question 3
Practice objective / multiple choice question 3 from the 2022 Post Utme Caleb University Economics examination.
A consumer's budget constraint is given by P1Q1 + P2Q2 = I, where P1 and P2 are prices, Q1 and Q2 are quantities, and I is income. If the consumer's income increases by 10% and the prices of both goods remain cons\tant, what is the likely effect on the consumer's budget line?
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About This Question
This is Post Utme Caleb University 2022 Economics Question 3. It is one of the objective questions from the 2022 Post Utme Caleb University Economics examination.
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