Post Utme Lead City University 2024 Commerce Question 20

Practice objective / multiple choice question 20 from the 2024 Post Utme Lead City University Commerce examination.

Post Utme Lead City University 2024 Commerce Objective / Multiple Choice
Question 20 POST_UTME_LEAD_CITY_UNIVERSITY • 2024 • COMMERCE • objective

A consumer is considering purchasing a new smartphone. The consumer has a budget of ₦50,000 and is willing to spend up to ₦30,000 on the smartphone. What is the consumer's budget constraint?

Answer Options

A. The consumer's budget constraint is a horizontal line at ₦30,000.
B. The consumer's budget constraint is a vertical line at ₦50,000.
C. The consumer's budget constraint is a downward-sloping line.
Correct Answer D. The consumer's budget constraint is a horizontal line at ₦50,000.
Correct Answer
D
Correct Option:
The consumer's budget constraint is a horizontal line at ₦50,000.

About This Question

This is Post Utme Lead City University 2024 Commerce Question 20. It is one of the objective questions from the 2024 Post Utme Lead City University Commerce examination.

View More Post Utme Lead City University 2024 Commerce Questions More Post Utme Lead City University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support