Post Utme Christopher University 2023 Economics Question 35

Practice objective / multiple choice question 35 from the 2023 Post Utme Christopher University Economics examination.

Post Utme Christopher University 2023 Economics Objective / Multiple Choice
Question 35 POST_UTME_CHRISTOPHER_UNIVERSITY • 2023 • ECONOMICS • objective

A consumer has a budget of ₦1000 and faces a price of ₦200 for a unit of a good. U\sing the concept of utility, explain how the consumer will allocate their budget between this good and another good with a price of ₦300.

Answer Options

A. The consumer will allocate all their budget to the good with a price of ₦200.
B. The consumer will allocate all their budget to the good with a price of ₦300.
Correct Answer C. The consumer will allocate their budget between the two goods in a ratio of 2:1.
D. The consumer will allocate their budget between the two goods in a ratio of 1:2.
Correct Answer
C
Correct Option:
The consumer will allocate their budget between the two goods in a ratio of 2:1.

About This Question

This is Post Utme Christopher University 2023 Economics Question 35. It is one of the objective questions from the 2023 Post Utme Christopher University Economics examination.

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