Post Utme Igbinedion University 2021 Economics Question 7
Practice objective / multiple choice question 7 from the 2021 Post Utme Igbinedion University Economics examination.
A consumer's budget constraint is given by P1Q1 + P2Q2 = I, where P1 and P2 are prices of two goods, Q1 and Q2 are quantities consumed and I is income. If the consumer's income is ₦1000, and prices of the two goods are ₦5 and ₦10 respectively, and the consumer sp\ends ₦500 on the first good, calculate the quantity of the second good consumed.
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This is Post Utme Igbinedion University 2021 Economics Question 7. It is one of the objective questions from the 2021 Post Utme Igbinedion University Economics examination.
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