Post Utme Lasu 2020 Economics Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Lasu Economics examination.

Post Utme Lasu 2020 Economics Objective / Multiple Choice
Question 1 POST_UTME_LASU • 2020 • ECONOMICS • objective

A consumer's indifference curve is downward sloping, indicating that as the quantity of one good increases, the quantity of the other good decreases. What is the name of this phenomenon?

Answer Options

Correct Answer A. Diminishing Marginal Utility
B. Diminishing Returns to Scale
C. Giffen Paradox
D. Income Effect
Correct Answer
A
Correct Option:
Diminishing Marginal Utility

About This Question

This is Post Utme Lasu 2020 Economics Question 1. It is one of the objective questions from the 2020 Post Utme Lasu Economics examination.

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