Post Utme Nile University 2018 Economics Question 3
Practice objective / multiple choice question 3 from the 2018 Post Utme Nile University Economics examination.
A consumer's budget constraint is given by the equation P1Q1 + P2Q2 = I, where P1 and Q1 are the price and quantity of good 1, P2 and Q2 are the price and quantity of good 2, and I is the income. If the price of good 1 increases by 20% and the price of good 2 decreases by 10%, what is the new budget constraint equation?
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About This Question
This is Post Utme Nile University 2018 Economics Question 3. It is one of the objective questions from the 2018 Post Utme Nile University Economics examination.
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