Post Utme Covenant University 2022 Economics Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2022 Economics Objective / Multiple Choice
Question 6 POST_UTME_COVENANT_UNIVERSITY • 2022 • ECONOMICS • objective

A consumer's indifference curve is steeper than another consumer's indifference curve. What can be inferred about the two consumers?

Answer Options

Correct Answer A. The first consumer has a higher marginal rate of substitution than the second consumer.
B. The first consumer has a lower marginal rate of substitution than the second consumer.
C. The first consumer has a higher income than the second consumer.
D. The first consumer has a lower income than the second consumer.
Correct Answer
A
Correct Option:
The first consumer has a higher marginal rate of substitution than the second consumer.

About This Question

This is Post Utme Covenant University 2022 Economics Question 6. It is one of the objective questions from the 2022 Post Utme Covenant University Economics examination.

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