Post Utme Joseph Ayo Babalola University 2020 Commerce Question 8

Practice objective / multiple choice question 8 from the 2020 Post Utme Joseph Ayo Babalola University Commerce examination.

Post Utme Joseph Ayo Babalola University 2020 Commerce Objective / Multiple Choice
Question 8 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2020 • COMMERCE • objective

A consumer has a budget constraint of 100 and a preference for two goods, X and Y. The prices of X and Y are 20 and 30, respectively. If the consumer spends all of their budget on good X, what is the likely outcome for good Y?

Answer Options

A. The consumer will buy 5 units of good Y.
B. The consumer will buy 3 units of good Y.
Correct Answer C. The consumer will not buy any units of good Y.
D. The consumer will buy 2 units of good Y.
Correct Answer
C
Correct Option:
The consumer will not buy any units of good Y.

About This Question

This is Post Utme Joseph Ayo Babalola University 2020 Commerce Question 8. It is one of the objective questions from the 2020 Post Utme Joseph Ayo Babalola University Commerce examination.

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