Post Utme Covenant University 2017 Commerce Question 13
Practice objective / multiple choice question 13 from the 2017 Post Utme Covenant University Commerce examination.
A consumer has a budget constraint of 100, and the prices of two goods are 10 and 20, respectively. If the consumer's indifference curve is tangent to the budget line at the point where the consumer is consuming 5 units of the first good and 2 units of the second good, what is the consumer's marginal rate of substitution?
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About This Question
This is Post Utme Covenant University 2017 Commerce Question 13. It is one of the objective questions from the 2017 Post Utme Covenant University Commerce examination.
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