Post Utme Madonna University 2018 Economics Question 16

Practice objective / multiple choice question 16 from the 2018 Post Utme Madonna University Economics examination.

Post Utme Madonna University 2018 Economics Objective / Multiple Choice
Question 16 POST_UTME_MADONNA_UNIVERSITY • 2018 • ECONOMICS • objective

The indifference curve of a consumer is downward sloping because of the law of increa\sing marginal utility. Which of the following is a consequence of this law?

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 total utility per unit of money 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 Madonna University 2018 Economics Question 16. It is one of the objective questions from the 2018 Post Utme Madonna University Economics examination.

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