Post Utme Futo 2021 Commerce Question 23
Practice objective / multiple choice question 23 from the 2021 Post Utme Futo Commerce examination.
A consumer has a budget constraint of 100 units of currency and faces the following prices: good A = 5 units, good B = 10 units. If the consumer's indifference curve is tangent to the budget constraint at point (20, 10), what is the marginal rate of substitution (MRS) between good A and good B?
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About This Question
This is Post Utme Futo 2021 Commerce Question 23. It is one of the objective questions from the 2021 Post Utme Futo Commerce examination.
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