Post Utme Nile University 2023 Economics Question 1

Practice objective / multiple choice question 1 from the 2023 Post Utme Nile University Economics examination.

Post Utme Nile University 2023 Economics Objective / Multiple Choice
Question 1 POST_UTME_NILE_UNIVERSITY • 2023 • ECONOMICS • objective

A consumer's indifference curve is downward sloping and convex to the origin. What is the implication of this shape on the consumer's utility function?

Answer Options

A. The consumer's utility function is linear.
Correct Answer B. The consumer's utility function is concave.
C. The consumer's utility function is convex.
D. The consumer's utility function is cons\tant.
Correct Answer
B
Correct Option:
The consumer's utility function is concave.

About This Question

This is Post Utme Nile University 2023 Economics Question 1. It is one of the objective questions from the 2023 Post Utme Nile University Economics examination.

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