Post Utme Noun 2017 Economics Question 3

Practice objective / multiple choice question 3 from the 2017 Post Utme Noun Economics examination.

Post Utme Noun 2017 Economics Objective / Multiple Choice
Question 3 POST_UTME_NOUN • 2017 • ECONOMICS • objective

A farmer in Nigeria produces maize and soybeans. If the price of maize increases by 20% and the price of soybeans remains cons\tant, what happens to the farmer's budget constraint?

Answer Options

A. The budget constraint shifts to the right
Correct Answer B. The budget constraint shifts to the left
C. The budget constraint remains the same
D. The budget constraint becomes vertical
Correct Answer
B
Correct Option:
The budget constraint shifts to the left

About This Question

This is Post Utme Noun 2017 Economics Question 3. It is one of the objective questions from the 2017 Post Utme Noun Economics examination.

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