Post Utme Christopher University 2017 Commerce Question 2

Practice objective / multiple choice question 2 from the 2017 Post Utme Christopher University Commerce examination.

Post Utme Christopher University 2017 Commerce Objective / Multiple Choice
Question 2 POST_UTME_CHRISTOPHER_UNIVERSITY • 2017 • COMMERCE • objective

A consumer's indifference curve is downward sloping and convex to the origin. What is the implication of this shape on the consumer's willingness to substitute one good for another?

Answer Options

Correct Answer A. The consumer is willing to substitute one good for another at a decreasing rate
B. The consumer is willing to substitute one good for another at an increasing rate
C. The consumer is indifferent to substituting one good for another
D. The consumer is unwilling to substitute one good for another
Correct Answer
A
Correct Option:
The consumer is willing to substitute one good for another at a decreasing rate

About This Question

This is Post Utme Christopher University 2017 Commerce Question 2. It is one of the objective questions from the 2017 Post Utme Christopher University Commerce examination.

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