Post Utme Lead City University 2020 Commerce Question 30

Practice objective / multiple choice question 30 from the 2020 Post Utme Lead City University Commerce examination.

Post Utme Lead City University 2020 Commerce Objective / Multiple Choice
Question 30 POST_UTME_LEAD_CITY_UNIVERSITY • 2020 • COMMERCE • objective

A consumer is considering purchasing a product that has a price of ₦1000. The consumer's budget constraint is such that they can spend up to ₦2000. Which of the following is a correct description of the consumer's budget line?

Answer Options

A. The budget line is a horizontal line at a price of ₦1000.
B. The budget line is a vertical line at a quantity of 2 units.
Correct Answer C. The budget line is a downward-sloping line with a slope of -1.
D. The budget line is a horizontal line at a quantity of 2 units.
Correct Answer
C
Correct Option:
The budget line is a downward-sloping line with a slope of -1.

About This Question

This is Post Utme Lead City University 2020 Commerce Question 30. It is one of the objective questions from the 2020 Post Utme Lead City University Commerce examination.

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