Post Utme Elizade University 2023 Economics Question 3

Practice objective / multiple choice question 3 from the 2023 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2023 Economics Objective / Multiple Choice
Question 3 POST_UTME_ELIZADE_UNIVERSITY • 2023 • ECONOMICS • objective

A consumer's budget constraint is given by the equation 2X + 3Y = 12, where X is the quantity of good X consumed and Y is the quantity of good Y consumed. If the price of good X increases from ₦2 to ₦3, what will be the effect on the quantity of good Y consumed?

Answer Options

Correct Answer A. The quantity of good Y consumed will increase.
B. The quantity of good Y consumed will decrease.
C. The quantity of good Y consumed will remain unchanged.
D. The effect on the quantity of good Y consumed is uncertain.
Correct Answer
A
Correct Option:
The quantity of good Y consumed will increase.

About This Question

This is Post Utme Elizade University 2023 Economics Question 3. It is one of the objective questions from the 2023 Post Utme Elizade University Economics examination.

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