Post Utme Igbinedion University 2024 Economics Question 15

Practice objective / multiple choice question 15 from the 2024 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2024 Economics Objective / Multiple Choice
Question 15 POST_UTME_IGBINEDION_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer's demand for a good is given by Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. If the consumer's income is $100 and the price of the good is $20, what is the consumer's willingness to pay?

Answer Options

A. $50
Correct Answer B. $60
C. $70
D. $80
Correct Answer
B
Correct Option:
$60

About This Question

This is Post Utme Igbinedion University 2024 Economics Question 15. It is one of the objective questions from the 2024 Post Utme Igbinedion University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support