Post Utme Madonna University 2023 Commerce Question 32
Practice objective / multiple choice question 32 from the 2023 Post Utme Madonna University Commerce examination.
A consumer's budget constraint is given by P1Q1 + P2Q2 = I, where P1 and P2 are the prices of two goods, Q1 and Q2 are the quantities consumed, and I is the consumer's income. If the price of good 1 increases by 15% and the price of good 2 remains constant, and the consumer's income increases by 10%, what is the new budget constraint equation?
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About This Question
This is Post Utme Madonna University 2023 Commerce Question 32. It is one of the objective questions from the 2023 Post Utme Madonna University Commerce examination.
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