Post Utme Lasu 2021 Commerce Question 33

Practice objective / multiple choice question 33 from the 2021 Post Utme Lasu Commerce examination.

Post Utme Lasu 2021 Commerce Objective / Multiple Choice
Question 33 POST_UTME_LASU • 2021 • COMMERCE • objective

A consumer's utility function is a mathematical representation of the satisfaction they derive from consuming a good or service. Which of the following is NOT a characteristic of a consumer's utility function?

Answer Options

A. The utility function is typically represented as a downward-sloping curve.
Correct Answer B. The utility function is typically represented as a horizontal line.
C. The utility function is typically represented as a vertical line.
D. The utility function is typically represented as a rightward shift of the utility curve.
Correct Answer
B
Correct Option:
The utility function is typically represented as a horizontal line.

About This Question

This is Post Utme Lasu 2021 Commerce Question 33. It is one of the objective questions from the 2021 Post Utme Lasu Commerce examination.

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