Post Utme Lautech 2019 Commerce Question 23

Practice objective / multiple choice question 23 from the 2019 Post Utme Lautech Commerce examination.

Post Utme Lautech 2019 Commerce Objective / Multiple Choice
Question 23 POST_UTME_LAUTECH • 2019 • COMMERCE • objective

A consumer's budget constraint is given by 2x + 3y = 12. If the consumer's current level of x is 3 units, what is the marginal rate of substitution between x and y?

Answer Options

Correct Answer A. -2/3
B. -1/2
C. -1/3
D. -1/4
Correct Answer
A
Correct Option:
-2/3

About This Question

This is Post Utme Lautech 2019 Commerce Question 23. It is one of the objective questions from the 2019 Post Utme Lautech Commerce examination.

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