Post Utme Futa 2024 Commerce Question 38
Practice objective / multiple choice question 38 from the 2024 Post Utme Futa Commerce examination.
A consumer has a budget of ₦1000 and faces the following prices: Q1 = ₦200, Q2 = ₦300, Q3 = ₦400. If the consumer's income elasticity of demand for Q1 is 0.5, what is the income effect on the demand for Q2?
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About This Question
This is Post Utme Futa 2024 Commerce Question 38. It is one of the objective questions from the 2024 Post Utme Futa Commerce examination.
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