Post Utme Ims U 2018 Economics Question 23

Practice objective / multiple choice question 23 from the 2018 Post Utme Ims U Economics examination.

Post Utme Ims U 2018 Economics Objective / Multiple Choice
Question 23 POST_UTME_IMS_U • 2018 • ECONOMICS • objective

A consumer's indifference curve (IC) is downward sloping and convex to the origin. If the consumer's income increases, what is the likely outcome for the consumer's optimal consumption bundle?

Answer Options

Correct Answer A. The consumer will move to a higher indifference curve
B. The consumer will move to a lower indifference curve
C. The consumer will remain on the same indifference curve
D. The consumer will move to a higher indifference curve but with a different optimal bundle
Correct Answer
A
Correct Option:
The consumer will move to a higher indifference curve

About This Question

This is Post Utme Ims U 2018 Economics Question 23. It is one of the objective questions from the 2018 Post Utme Ims U Economics examination.

View More Post Utme Ims U 2018 Economics Questions More Post Utme Ims U Practice Questions Back to Questions

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