Post Utme Igbinedion University 2023 Economics Question 3
Practice objective / multiple choice question 3 from the 2023 Post Utme Igbinedion University Economics examination.
A consumer has a budget constraint of ₦100, and the prices of two goods are ₦20 and ₦30, respectively. If the consumer's indifference curve is \tangent to the budget line at the point where the consumer is consuming 2 units of the first good and 1 unit of the second good, what is the opportunity \cost of the first good in terms of the second good?
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This is Post Utme Igbinedion University 2023 Economics Question 3. It is one of the objective questions from the 2023 Post Utme Igbinedion University Economics examination.
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