Post Utme Lautech 2018 Economics Question 11

Practice objective / multiple choice question 11 from the 2018 Post Utme Lautech Economics examination.

Post Utme Lautech 2018 Economics Objective / Multiple Choice
Question 11 POST_UTME_LAUTECH • 2018 • ECONOMICS • objective

The indifference curve for a consumer is downward sloping because of the law of increa\sing marginal utility. What is the implication of this law on the consumer's behavior?

Answer Options

A. The consumer will always choose the combination of goods that gives the highest marginal utility.
B. The consumer will always choose the combination of goods that gives the highest total utility.
Correct Answer C. The consumer will always choose the combination of goods that gives the highest marginal utility per unit of money spent.
D. The consumer will always choose the combination of goods that gives the highest marginal utility per unit of time spent.
Correct Answer
C
Correct Option:
The consumer will always choose the combination of goods that gives the highest marginal utility per unit of money spent.

About This Question

This is Post Utme Lautech 2018 Economics Question 11. It is one of the objective questions from the 2018 Post Utme Lautech Economics examination.

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