Post Utme Coal City University 2021 Commerce Question 38
Practice objective / multiple choice question 38 from the 2021 Post Utme Coal City University Commerce examination.
A consumer has a budget of ₦10,000 to spend on two goods, X and Y. The prices of the goods are ₦2,000 and ₦3,000, respectively. The consumer's indifference curves are such that the marginal rate of substitution (MRS) between the two goods is 2:1. Calculate the consumer's optimal consumption bundle.
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About This Question
This is Post Utme Coal City University 2021 Commerce Question 38. It is one of the objective questions from the 2021 Post Utme Coal City University Commerce examination.
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