Post Utme Lasu 2017 Commerce Question 22
Practice objective / multiple choice question 22 from the 2017 Post Utme Lasu Commerce examination.
A consumer's budget constraint is given by P1x + P2y = I, where x and y are the quantities of two goods, P1 and P2 are their prices, and I is the consumer's income. If the price of good 1 increases by 15% and the consumer's income increases by 10%, what is the new budget constraint equation?
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About This Question
This is Post Utme Lasu 2017 Commerce Question 22. It is one of the objective questions from the 2017 Post Utme Lasu Commerce examination.
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